Scott F

Last Minute Sales Remain in Closed-End Funds

I've been trading closed-end funds professionally for twenty years, and I often have a different take on these funds. Not better, per se, just different. I think these funds mentioned are reasonable. To me, JSN looks more like a short than nearly any of the buy/write funds. Nuveen is a lousy equity manager, out of their depths. Not much discount either. IGD looks neutral at current discount. Only EXG seems like a buy to me. But it's not much of a trading opportunity with its lower volatility. From a trading perspective I like INB and CHW better, but they are lousy to hold: leveraged and with excessive management fees. I don't think any of these funds are ones I'd want to buy and hold. You have to look at total returns with these funds, ignore the yield -- it's meaningless, arbitrary, and made up. Remember, most closed-end funds are poorly managed with excessive cost-structures. They generally are trading vehicles, not ownership material.