Douglas Albo's  Instablog

Douglas Albo
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Registered Investment Advisor. Prior experience includes 12-years as a Vice-President, Financial Advisor at Smith Barney and Morgan Stanley.
My company:
Capital Income Management, LLC
My blog:
  • Equity CEFs: Opportunity In ETY 5 comments
    Apr 2, 2014 11:05 AM | about stocks: ETY

    Big seller today in the Eaton Vance Tax-Managed Diversified Equity Income fund (NYSE:ETY), currently at $11.07 down 1.1%. No reason for this as ETY's top 20 holdings are actually doing very well as I see them.

    I would be a buyer here. ETY will be close to a -10% discount after today if this holds up. The fund has been a superstar recently with excellent NAV total return performance. YTD, NAV is up 2.32%, matching the S&P 500. At a 9.1% current yield paid monthly, ETY is a strong buy.

    Disclosure: I am long ETY.

    Stocks: ETY
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