mavericks

High Yield Closed-End Funds: Personal Favorites

Excellant article. I too own many of these funds, however I shorted ERH when it went ex-dividend and was UP on the day. One note regarding Buy-write funds offering limited protection against a serious market downturn. The Nuveen buy-write funds, JSN, JLA, JPZ and JPG also buy index puts to give you added downside protection. JSN, JLA, & JPZ are 100% hedged with S&P and/or NDX puts and JPG is 80%hedged (according to Nuveen). Minimal premiums and very high yields though they did just swith to quarterly pay from monthly pay.