The Month In Closed-End Funds: July 2017

Includes: BWG, CH, EDD, EDI, LAQ, LDF
by: Tom Roseen


For the ninth month in a row equity closed-end funds (CEFs) witnessed a plus-side return on average, rising 2.14% on a net-asset-value (NAV) basis for July.

For the seventh month in eight fixed income CEFs posted a return in the black, gaining 0.94%.

For July 25% of all CEFs traded at a premium to their NAV, with 22% of equity CEFs and 28% of fixed income CEFs trading in premium territory.

Emerging Markets CEFs (+4.34%) and Natural Resources CEFs (+3.56%) posted the strongest returns in the equity universe, propping up both the world equity CEFs (+3.12%) and domestic equity CEFs (+1.98%) macro-groups.

Returning to their winning ways, all of Lipper’s municipal debt CEF classifications posted returns in the black, with New Jersey Municipal Debt CEFs (+0.90%) leading the pack.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.