Weekly Closed-End Fund Roundup: NHF Completes Rights Offering, Nuveen Muni Mergers

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Includes: ACV, AIF, CCA, CCD, CHI, CIF, CLM, CMU, CRF, CXE, CXH, DDF, DEX, DSU, EAD, EDI, EEA, EIM, EOD, ERC, EVG, EVV, GGT, GIM, GLO, GLQ, GLV, GNT, HQH, HQL, IAE, IGA, IGD, IHD, IID, JDD, JLS, JMT, MCR, MFD, MFM, MFV, MGF, MIN, MMT, NAD, NCV, NDP, NEA, NHF, NNC, NTC, NTX, NVG, OXLC, PFD, SPPP, TEI, TWN, VBF, VFL, VPV, XFLT
by: Stanford Chemist
Summary

Seven out of 31 CEF sectors positive on price and 10 out of 31 sectors positive on NAV this week.

NHF completes (dilutive) offering.

Three Nuveen state muni CEFs to be merged into 3 national muni CEFs.

DEX's upcoming tender offer.

This article was first released to CEF/ETF Income Laboratory subscribers two weeks ago, so data may be out of date. Please check latest data before making investment decisions.

The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund sectors in the last week, as well as to highlight recently-concluded or upcoming corporate actions on CEFs, such as tender offers. Most of the information has been sourced from CEFInsight or the Closed-End Fund Center. I also will link to some articles from Seeking Alpha that I have found for useful reading over the past week. The searchable tag for this feature is "cildoc." Data is taken from the close of Friday May 24, 2019.

Weekly performance roundup

Thirteen out of 31 sectors were positive on price (up from seven last week) and the average price return was -0.38% (up from -0.49% last week). The leading gainers were U.S. Real Estate (+0.88%), Preferreds (+0.68%) and Investment Grade (+0.67%), while MLP (-3.67%) lagged.

(Source: Stanford Chemist, CEFConnect)

Ten out of 31 sectors were positive on NAV (down from 11 last week), while the average NAV return was -0.50% (down from -0.27% last week). The top sector by NAV was U.S. Health Biotech (+0.77%) followed by Emerging Market Income (+0.26%) while the weakest sector was MLPs (-3.31%).

(Source: Stanford Chemist, CEFConnect)

The sector with the highest premium is Preferreds (+1.37%), while the sector with the highest discount is Non-U.S. Equity (-11.72%). The average sector discount is -6.19% (up from -6.29% last week).

(Source: Stanford Chemist, CEFConnect)

Non-U.S. Equity showed the largest premium/discount increase (+1.06%), while Multisector Income showed the largest premium/discount decline (-0.71%). The average change in premium/discount was +0.10% (down from -0.20% last week).

(Source: Stanford Chemist, CEFConnect)

The sector with the highest average one-year z-score is New Jersey munis (+1.90) while the sector with the lowest z-score is U.S. Energy/Resources Equity (-0.40). The average z-score is +0.57 (up from +0.53 last week).

(Source: Stanford Chemist, CEFConnect)

The sectors with the highest yields are MLPs (11.16%), Global Equity Dividend (9.96%), Global Growth & Income (9.79%), Emerging Market Income (9.25%) and Covered Call (8.70%). Discounts and z-scores for the sectors are included for comparison. The average sector yield is 7.15% (up from 7.11% last week).

(Source: Stanford Chemist, CEFConnect)

Individual CEFs that have undergone a significant decrease in premium/discount value over the past week, coupled optionally with an increasing NAV trend, a negative z-score, and/or are trading at a discount, are potential buy candidates.

Ticker

P/D decrease

Yield

P/D

Z-Score

Price change

NAV change

(CRF)

-4.67%

21.71%

4.18%

-1.4

-5.10%

-0.85%

(CCD)

-4.29%

10.51%

-2.16%

-0.7

-5.32%

-1.17%

(CLM)

-4.26%

21.72%

4.23%

-1.0

-4.63%

-0.73%

(OXLC)

-3.04%

15.62%

37.17%

2.0

-2.17%

0.00%

(CHI)

-2.77%

9.50%

-3.53%

-0.6

-3.72%

-0.95%

(NCV)

-2.54%

11.27%

2.01%

-1.9

-2.78%

-0.36%

(JDD)

-2.53%

8.22%

-7.99%

0.0

-2.93%

-0.26%

(JDD)

-2.53%

8.22%

-7.99%

0.0

-2.93%

-0.26%

(ACV)

-2.44%

8.70%

2.81%

0.9

-3.44%

-1.15%

(EDI)

-2.43%

14.40%

13.32%

1.4

-1.56%

0.54%

(Source: Stanford Chemist, CEFConnect)

Conversely, individual CEFs that have undergone a significant increase in premium/discount value in the past week, coupled optionally with a decreasing NAV trend, a positive z-score, and/or are trading at a premium, are potential sell candidates.

Ticker

P/D increase

Yield

P/D

z-score

Price change

NAV change

(PFD)

5.82%

6.34%

4.57%

1.7

5.34%

-0.51%

(NDP)

5.29%

21.74%

25.98%

3.2

-11.54%

-15.25%

(EEA)

3.66%

3.93%

-12.92%

0.0

0.47%

-3.75%

(NHF)

3.27%

12.73%

-20.36%

-2.7

3.23%

-1.00%

(NTC)

3.19%

3.78%

-7.85%

4.1

3.66%

0.07%

(VFL)

3.08%

4.45%

-7.74%

3.8

3.11%

-0.34%

(TWN)

3.02%

4.12%

-11.39%

1.2

-1.84%

-5.19%

(GNT)

2.99%

11.11%

-6.57%

0.8

1.89%

-1.37%

(GGT)

2.92%

11.06%

3.04%

0.1

-0.37%

-3.19%

(SPPP)

2.86%

%

-4.07%

-0.1

0.60%

-2.40%

(Source: Stanford Chemist, CEFConnect)

Recent corporate actions

These are from the last month and are quoted from Closed-End Fund Center, Morningstar, or CEFInsight (email alerts). Any new news in the past week has a bolded date:

May 23, 2019 | NexPoint Strategic Opportunities Fund Completes Rights Offering, Draws Subscriptions Totaling Over 230% of Primary Offering. NexPoint Advisors, L.P. (together with its affiliates "NexPoint") announced today the successful completion of a non-transferable rights offering (the "Offer") for the NexPoint Strategic Opportunities Fund (NHF) (the "Fund"). The Offer garnered material oversubscription, with subscriptions equal to 231% of the primary offering. "We appreciate the widespread shareholder support that enabled us to complete another successful rights offering," said James Dondero, NexPoint president and portfolio manager for the Fund. "We have several opportunities—particularly in real estate—that we believe will drive performance, and we look forward to pursuing those strategic investments."

The Offer commenced on April 30, 2019 and expired on May 22, 2019, (the "Expiration Date"). The Offer entitled rights holders to subscribe for up to an aggregate of 10,798,855 of the Fund's common shares (the "Shares"). Pursuant to the Offer, the Fund issued one non-transferable right (a "Right") for each common share of the Fund to shareholders of record as of April 29, 2019 ("Record Date Shareholders"). Holders of Rights were entitled to purchase one newly issued Share for every three Rights held. The subscription price for each Share issued pursuant to the Offer was $17.77, which represented 95% of the average of the last reported sales price of the Fund's common shares on the New York Stock Exchange ("NYSE") on the Expiration Date and on each of the four trading days preceding the Expiration Date.

Preliminary results indicate that the Fund received total subscriptions for Shares totaling approximately $519 million (including oversubscription requests and notices of guaranteed delivery), representing 231% of the 10,798,855 Shares available to be issued pursuant to the primary subscription. Oversubscription requests exceeded the oversubscription shares available and the 2,699,713 additional Shares available pursuant to the exercise of an overallotment option (the "Secondary Subscription Shares"). The oversubscription shares and Secondary Subscription Shares will be allocated pro-rata among those Record Date Shareholders who oversubscribed based on the number of common shares of the Trust owned by such Shareholders on April 29, 2019, the Record Date. Confirmation as to the amount of Shares received by each participating Rights holder will be sent by the Subscription Agent on or about May 30, 2019.

May 17, 2019 | Eaton Vance Municipal Bond Fund Announces Preliminary Results Of Tender Offer. Eaton Vance Municipal Bond Fund (EIM) (the "Fund") announced today the preliminary results of its tender offer for up to 10% or 8,969,613 of its outstanding common shares of beneficial interest. The tender offer expired at 5:00 P.M. Eastern Time on May 17, 2019. Based on preliminary information provided by American Stock Transfer & Trust Company, the depositary for the tender offer, approximately 33,920,082 shares were properly tendered. In accordance with the terms and conditions of the tender offer, because the number of shares tendered exceeds the number of shares offered to purchase, the Fund will purchase shares from tendering shareholders on a pro-rata basis (disregarding fractional shares). The purchase price of properly-tendered shares is 98% of the Fund's net asset value per share calculated as of the close of regular trading on the New York Stock Exchange (NYSE) on May 17, 2019, which is equal to $13.374 per share. These numbers are subject to adjustment and should not be regarded as final. The Fund currently expects to announce the final results of the tender offer on or about May 20, 2019.

April 16, 2019 | BlackRock Debt Strategies Fund, Inc. Announces Final Results of Tender Offer. BlackRock Debt Strategies Fund, Inc. (DSU) announced today the final results of the Fund’s tender offer (the “Tender Offer”) for up to 5% of its outstanding shares of common stock (the “Shares”). The Tender Offer, which expired at 5:00 p.m. Eastern time on April 15, 2019, was oversubscribed. Therefore, in accordance with the terms and conditions of the Tender Offer, the Fund will purchase Shares from all tendering stockholders on a pro rata basis, after disregarding fractions, based on the number of Shares properly tendered (“Pro-Ration Factor”). The final results of the Tender Offer are provided in the table below.

Number of SharesTendered

Number ofTendered Sharesto be Purchased

Pro-Ration Factor

Purchase Price*

Number ofOutstandingShares afterTender Offer

21,792,955

2,636,959

12.10137%

$11.9854

50,102,225

* Equal to 98% of the Fund's net asset value per Share as of April 16, 2019 (the business day immediately following the expiration date of the Tender Offer). The Fund will purchase the Shares it has accepted for payment as promptly as practicable.

Upcoming corporate actions

These are from the last month and are quoted from Closed-End Fund Center, Morningstar, or CEFInsight (email alerts). Any new news in the past week has a bolded date:

May 23, 2019 | Nuveen Closed-End Funds’ Board of Trustees Approves Three Fund Reorganization Proposals. The Board of Trustees for six Nuveen municipal closed-end funds approved three merger proposals. The mergers are subject to customary conditions, including shareholder approval. The mergers are intended to create larger funds with lower operating expenses and increased trading volume on the exchange for common shares. More information on the proposed mergers will be contained in proxy materials expected to be filed in the coming weeks.

Acquired Fund Symbol Acquiring Fund Symbol

Nuveen Texas Quality Municipal Income Fund

(NTX) Nuveen Quality Municipal Income Fund (NAD)
Nuveen North Carolina Quality Municipal Income Fund (NNC) Nuveen AMT-Free Quality Municipal Income Fund (NEA)
Nuveen Connecticut Quality Municipal Income Fund (NTC) Nuveen AMT-Free Municipal Credit Income Fund (NVG)

If shareholders approve the reorganization, Nuveen Connecticut Quality Municipal Income Fund (NTC) shareholders will receive a cash distribution prior to the closing of the reorganization of approximately 10% of net asset value per share.

May 23, 2019 | Nuveen Mortgage Closed-End Funds Announce Alternate Proposals. The Board of Trustees of Nuveen Mortgage Opportunity Term Fund (JLS) and Nuveen Mortgage Opportunity Term Fund 2 (JMT) have approved a series of proposals that will allow shareholders the opportunity to maintain their exposure to securitized credit. In light of the upcoming scheduled termination of each fund, these alternate proposals, which replace a previously announced merger proposal, asks shareholders of each fund to vote to amend the charter and eliminate the term structure. For each fund, if the fund’s charter amendment and the other proposals described below are approved by shareholders, the fund will conduct a tender offer for up to 100 percent of its outstanding shares at NAV. If the fund’s managed assets taking into account shares properly tendered in the tender offer would be $80 million or greater, the tender offer will be completed and the fund’s term structure will be eliminated. If the fund’s managed assets after the tender offer would be less than $80 million, the tender offer will be cancelled with no common shares repurchased and instead that fund will proceed to terminate as scheduled.

The funds currently have an investment objective to generate attractive total returns through opportunistic investments in mortgage-backed securities (MBS). As part of the alternate proposals, shareholders will be asked to vote on a change in investment objective to generate high current income through opportunistic investments in securitized credit. Additionally, JLS and JMT will update their investment policies to invest at least 65% of managed assets in MBS, including residential MBS and commercial MBS, and may invest up to 35% in non-mortgage related asset-backed securities including, but not limited to, consumer, auto, collateralized loan obligations, solar, timeshare, aircraft and catastrophe bonds.

As a result of these investment policy changes, each of JLS and JMT will change its name. JLS will be renamed “Nuveen Mortgage and Income Fund” and JMT will be renamed “Nuveen Mortgage and Income Fund 2.” Additionally, as part of the alternate proposals, shareholders of each fund will be asked to vote on a new investment management agreement with Nuveen Fund Advisors, LLC that provides for a lower fund-level management fee at each asset level and a new sub-advisory agreement with Teachers Advisors, LLC. Aashh Parekh, Nick Travaglino, and Steve Virgilio of Teachers Advisors will serve as portfolio managers. Each of the changes described above will take effect with respect to a fund only if shareholders of that fund approve all of the proposals described above and the tender offer condition is satisfied.

May 23, 2019 | Delaware Enhanced Global Dividend and Income Fund Announces Self-Tender Offer for up to Five Percent of Its Shares. Delaware Enhanced Global Dividend and Income Fund (DEX) (the “Fund”) announced today that its Board of Trustees has authorized an issuer tender offer to purchase for cash up to 631,965 of its common shares, representing five percent of its issued and outstanding common shares, without par value. The tender offer will commence on Friday, May 31, 2019, and will expire, unless extended, at 11:59 p.m., New York City time, on Thursday, June 27, 2019. Subject to various terms and conditions described in offering materials to be distributed to shareholders: (1) purchases will be made at a price per share equal to 98% of the Fund’s net asset value per share as of the close of trading on the first business day after the expiration of the offer; and (2) if more shares are tendered than the amount the Board has authorized to purchase, the Fund will purchase a number of shares equal to the offer amount on a prorated basis.

March 27, 2019 | Eaton Vance Municipal Bond Fund Announces Firm And Conditional Tender Offers. Eaton Vance Municipal Bond Fund (EIM) (the "Fund") today announced that its Board of Trustees (the "Board") has authorized a cash tender offer for up to 10% of its outstanding common shares at a price per share equal to 98% of the Fund's net asset value ("NAV") per share as of the close of regular trading on the New York Stock Exchange (NYSE) on the date the tender offer expires (the "Firm Tender Offer"). The Firm Tender Offer is expected to begin on or about April 18, 2019 and expires at 5:00 PM Eastern Time on or about May 17, 2019, unless extended. The pricing date is also expected to be May 17, 2019, unless the Firm Tender Offer is extended.

The Board also authorized the Fund to conduct two conditional cash tender offers to follow the Firm Tender Offer, provided certain conditions are met. Specifically, as soon as reasonably practicable after the Firm Tender Offer closes, the Fund will announce via press release the commencement of a 120-day period. If, during such period, the Fund's common shares trade at an average discount to NAV of more than 6% ("First Trigger Event"), the Fund will conduct an additional tender offer (the "Initial Conditional Tender Offer") beginning within 30 days of the end of the month in which the First Trigger Event occurs. The Initial Conditional Tender Offer will be for up to 5% of the Fund's then-outstanding common shares at 98% of NAV per share as of the close of regular trading on the NYSE on the date the tender offer expires.

If the Initial Conditional Tender Offer occurs, the Fund will announce via press release the commencement of a second 120-day period. If, during such period, the Fund's common shares trade at an average discount to NAV of more than 6% ("Second Trigger Event"), the Fund will conduct an additional tender offer (the "Second Conditional Tender Offer" and, collectively with the Firm Tender Offer and the Initial Conditional Tender Offer, the "Tender Offers") beginning within 30 days of the end of the month in which the Second Trigger Event occurs. The Second Conditional Tender Offer will be for up to 5% of the Fund's then-outstanding common shares at 98% of NAV per share as of the close of regular trading on the NYSE on the date the tender offer expires. The Second Conditional Tender Offer will not commence and the Fund will not announce a second 120-day period unless the Initial Conditional Tender Offer occurs.

Recent activist or other CEF news

These are from the last month and are quoted from Closed-End Fund Center, Morningstar, or CEFInsight (email alerts); any new news in the past week has a bolded date:

March 28, 2019 | Board Approves Changes to Sub-Adviser, Fees, and Strategies for Voya Emerging Markets High Dividend Equity Fund. The Board of Trustees (“the Board”) of Voya Emerging Markets High Dividend Equity Fund (the “Fund”) (IHD) has approved changes to the Fund’s sub-advisory relationship. In connection with these approvals, the investment strategies and portfolio managers of the Fund will change and the Fund’s investment advisory fee rate and expense limit arrangements will be reduced as described below. Each of the foregoing changes will be effective on or about May 6, 2019.

  • The Fund’s Board has appointed Voya Investment Management Co. LLC (“Voya IM” or “Sub-Adviser”) to serve as the sole sub‐adviser to the Fund beginning on May 6, 2019, following the termination of the current sub‐advisory agreement between Voya Investments, LLC (the “Adviser”) and NNIP Advisors B.V.
  • The Fund will maintain its current investment objective of total return through a combination of current income, capital gains, and capital appreciation. The Fund will continue to pursue an option overlay strategy in the same manner as the current strategy. Upon the implementation of the changes, Voya IM will employ a dividend focused quantitative strategy in selecting equity investments for the Fund. T he Sub-Adviser uses an internally developed quantitative computer model to create a target universe of global securities with above average dividend yields compared to the Index, which the Sub-Adviser believes exhibit stable dividend yields within each geographic region and industry sector.
  • Management fee reduced from 1.25% to 1.15%.

Similar announcements were made for Voya Asia Pacific High Dividend Equity Income Fund (IAE), Voya Global Advantage and Premium Opportunity Fund (IGA), Voya Global Equity Dividend and Premium Opportunity Fund (IGD), and Voya International High Dividend Equity Income Fund (IID), except that IGA did not announce a fee cut.

Distribution changes announced this month

These are sorted in ascending order of distribution change percentage. Funds with distribution changes announced this month are included. Any distribution declarations made this week are in bold. I've also added monthly/quarterly information as well as yield, coverage (after the boost/cut), discount and 1-year z-score information. I've separated the funds into two sub-categories, cutters and boosters.

Cutters

Name

Ticker

Change

Previous

Current

Yield

Discount

z-score

Coverage

Announced

Ex-date

Mac/First Glb Infrastructure

(MFD)

-16.7%

0.3

0.25

11.25%

-8.59%

-1.5

32%

5/13/2019

5/22/2019

Invesco PA Value Muni

(VPV)

-7.8%

0.058

0.0535

5.12%

-9.12%

1.1

93%

5/1/2019

5/14/2019

MFS High Yield Municipal Trust

(CMU)

-5.0%

0.02

0.019

5.00%

-5.98%

0

108%

5/1/2019

5/14/2019

Templeton Emerging Mkts Income

(TEI)

-4.6%

0.0701

0.0669

7.92%

-6.02%

1.6

100%

5/1/2019

5/14/2019

MFS High Income Municipal

(CXE)

-4.5%

0.022

0.021

4.99%

-6.13%

0.1

110%

5/1/2019

5/14/2019

MFS California Municipal Fund

(CCA)

-4.3%

0.035

0.0335

3.48%

-8.19%

1.2

122%

5/1/2019

5/14/2019

MFS Investment Grade Muni

(CXH)

-4.1%

0.037

0.0355

4.49%

-10.47%

0.5

111%

5/1/2019

5/14/2019

MFS Municipal Income

(MFM)

-3.4%

0.029

0.028

4.91%

-6.68%

0.6

111%

5/1/2019

5/14/2019

Invesco Bond Fund

(VBF)

-2.9%

0.07

0.068

4.35%

-4.09%

2.9

101%

5/1/2019

5/14/2019

Apollo Tactical Income Fund In

(AIF)

-1.9%

0.104

0.102

8.24%

-11.24%

0.2

108%

5/1/2019

5/16/2019

Wells Fargo Adv Glo Div Opp

(EOD)

-1.5%

0.14881

0.14659

10.94%

-6.86%

1

14%

5/22/2019

6/13/2019

Wells Fargo Adv Multi-Sec Inc

(ERC)

-0.5%

0.10054

0.10006

9.69%

-5.85%

1.5

70%

5/22/2019

6/13/2019

Wells Fargo Adv Inc Opp

(EAD)

-0.1%

0.0591

0.05905

8.80%

-9.55%

1.4

79%

5/22/2019

6/13/2019

(Source: Stanford Chemist, CEFConnect)

Boosters

Name

Ticker

Change

Previous

Current

Yield

Discount

z-score

Coverage

Announced

Ex-date

MFS Intermediate Income

(MIN)

0.1%

0.02859

0.02861

9.11%

-6.45%

1.6

30%

5/1/2019

5/14/2019

MFS Government Markets Income

(MGF)

0.1%

0.02845

0.02847

7.51%

-3.79%

2.5

36%

5/1/2019

5/14/2019

Clough Global Div and Inc Fund

(GLV)

0.7%

0.1034

0.1041

11.36%

-10.35%

-0.5

18%

5/10/2019

5/20/2019

MFS Charter Income

(MCR)

0.9%

0.05817

0.05871

8.88%

-9.47%

1.2

50%

5/1/2019

5/14/2019

MFS Multi-Market Income

(MMT)

1.1%

0.04122

0.04167

8.85%

-8.87%

0.9

51%

5/1/2019

5/14/2019

Clough Global Opportunities

(GLO)

1.1%

0.0893

0.0903

11.38%

-9.42%

-0.1

2%

5/10/2019

5/20/2019

Clough Global Equity

(GLQ)

1.2%

0.1137

0.1151

10.68%

-3.44%

0.4

0%

5/10/2019

5/20/2019

MFS Intermediate High Income

(CIF)

1.4%

0.02006

0.02035

9.43%

2.37%

1.2

59%

5/1/2019

5/14/2019

MFS Special Value Trust

(MFV)

1.8%

0.04541

0.04621

9.68%

5.09%

2.3

29%

5/1/2019

5/14/2019

Delaware Enhanced Gbl Div&Inc

(DEX)

1.8%

0.0904

0.092

11.43%

-10.89%

-0.4

48%

5/7/2019

5/23/2019

Delaware Inv Div & Inc

(DDF)

2.2%

0.0905

0.0925

8.19%

27.68%

2.2

22%

5/7/2019

5/23/2019

EV Limited Duration Income

(EVV)

4.5%

0.067

0.07

6.65%

-12.77%

0.8

99%

5/1/2019

5/10/2019

Templeton Global Income

(GIM)

5.4%

0.0336

0.0354

6.63%

-10.13%

1.8

90%

5/1/2019

5/14/2019

XAI Octagon FR & Alt Inc Term

(XFLT)

5.8%

0.069

0.073

9.47%

3.82%

1.2

85%

5/1/2019

5/14/2019

Tekla Healthcare Investors

(HQH)

9.8%

0.41

0.45

9.07%

-9.28%

0.3

-1%

5/21/2019

5/30/2019

Tekla Life Sciences Investors

(HQL)

12.1%

0.33

0.37

8.98%

-8.08%

-1.1

-4%

5/21/2019

5/30/2019

EV Short Duration Diversified

(EVG)

15.4%

0.065

0.075

6.89%

-11.57%

1.9

76%

5/1/2019

5/23/2019

(Source: Stanford Chemist, CEFConnect)

CEF analysis from around Seeking Alpha...

ADS Analytics presents JGH: A Strong Producer From An Overlooked Sector (May 23)

Arbitrage Trader presents Weekly Review: High-Yield CEFs - HYB Is A Buying Opportunity With Fully Covered Dividend (May 22), Weekly Review: Municipal Bond CEFs - The Uncertain Market Environment Gave A Positive Impulse To The Sector (May 22)

Derek Heckman presents Cornerstone Total Return Fund Is Best Used For Trading, Not For Long-Term Returns (May 20)

Dividend Seeker presents JGH: Further Upside Possible, But Likely Limited (May 22), PCM: A Solid Fund At An Expensive Price (May 23)

Maks F. S. presents Nuveen Diversified Real Asset Income & Growth Fund - Thematic Income At A Discount (May 20), Nuveen Credit Strategies Income Fund: When 'Junk' Is Great To Own (May 24)

MTS Insights presents India Investment Fund Could Rise On Indian Recovery (May 23)

Power Hedge presents FPL: An Interest MLP And Utilities CEF For Income-Seekers (May 19), Liberty All-Star Growth Fund: A Small-Cap Growth CEF With Some Potential (May 20), EOS: A Covered Call CEF Focused Around Growth (May 21)

RockEstra Research presents Aberdeen Income Credit Strategies Fund: A High-Yield And Stable Income Fund (May 22)

*Stanford Chemist presents BWG: Closed-End Fund With -15% Discount And Fully Covered 7% Yield, But Not A Buy (May 18), NexPoint Strategic Opportunities Fund: Why We Sold It (May 20), Weekly Closed-End Fund Roundup: EVG Boosts By 15% (May 21), The Chemist's 'High-High-Low' Closed-End Fund Report: April 2019 (May 22), Nuveen Senior Income Fund: A Fairly Standard Senior Loan Closed-End Fund At -12% Discount, 7.69% Yield And 99% Coverage (May 23)

*To subscribers: these link to the public version of the article, which you will already have seen in the members section.

Macro/market section

Fear & Greed Trader presents S&P 500 Weekly Update: Tariff Tantrums And A Flight To Safety - Relax And Be Patient (May 24)

Jeff Miller presents Weighing The Week Ahead: Should We Be Worried About A Sputtering Economic Engine? (May 26)

Lance Roberts presents The Bulls Continue To Bet On The Fed (May 26)

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