Wed, Apr. 29, 11:17 AM
- On the lookout for closed-end funds with room to move higher over the next 12-18 months while paying out a solid distribution, Michael Jabara and team at Morgan Stanley Wealth Management find 11 top picks.
- On average, they have a 7.5% payout (vs. 6.7% for peers) and a discount to NAV of 8.7% (vs. 7.9% for peers).
- The list: Royce Value Trust (NYSE:RVT), Neuberger Berman MLP Income Fund (NYSEMKT:NML), ClearBridge Energy MLP Fund (NYSE:CEM), John Hancock Financial Opportunities Fund (NYSE:BTO), Gabelli Dividend & Income Trust (NYSE:GDV), Eaton Vanco Tax-Advantaged Global Dividend Fund (NYSE:ETG), Nuveen S&P 500 Buy-Write Income Fund (NYSE:BXMX), Eaton Vance Tax-Managed Diversified Equity Fund (NYSE:ETY), BlackRock International Growth & Income Trust (NYSE:BGY), Eaton Vance Tax-Managed Diversified Global Equity Fund (NYSE:EXG), and BlackRock Global Opportunities Equity Trust (NYSE:BOE).
- Source: Barron's
Feb. 28, 2011, 3:40 PMRaymond James' Jeffrey Saut thinks last week's drop in stocks was the beginning of a 5%-10% correction, believing that it would be rare to see the extreme bullish sentiment ahead of the sell-off worked off in a mere three sessions. Still, he's not too bearish, as he lists favorite stocks that "held up best" during the turmoil: ALTR, CA, CLS, SWKS, STLY, SWK, TPX, WMB, RVT. | Comment!
RVT vs. ETF Alternatives
The Funds primary investment objective is long-term capital appreciation, that it will seek to achieve by normally investing more than 65% of its assets in common stocks, convertible preferred stock and convertible debentures. Current income is a secondary
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