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Morningstar's Steven Pikelny calls on three closed-end income funds - MIN, PHK, and KMM - to cut...

Morningstar's Steven Pikelny calls on three closed-end income funds - MIN, PHK, and KMM - to cut their distributions, noting none consistently come close to actually earning their payout. By itself, that's not a no-no as shareholders can reinvest the distribution back into the fund. But when the fund trades at a premium to NAV - as all 3 of these do - such reinvestment leaves the shareholder worse off.
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Comments (2)
  • Sting71
    , contributor
    Comments (74) | Send Message
     
    PHK has distributed the same monthly distribution for more than five years and is managed by Bill Gross. Mr. Pikelny you do not compare to Bill Gross. He invested in PHK in October of 2012 with his family's money. I think I will continue with PHK.
    1 May 2013, 01:31 PM Reply Like
  • Huck2u
    , contributor
    Comments (54) | Send Message
     
    Seems the author wants PHK to cut the distribution so he won't have to face the fact that the predicted cut has not occurred.
    Interesting fact is that those IMPENDING slashing of the distribution has not appeared for the nearly 5 years that the sell side has been warning for.
    Please stop rehashing the carbon copied DISCREDITED bucket of swamp gas.
    It is not going to happen.
    1 May 2013, 02:54 PM Reply Like
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