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at MarketWatch.com (Jun 4, 2010)
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- | On the move
- Wednesday, May 1, 11:56 AM 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. 2 Comments [Financials, Quick Ideas]