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Closed-End Funds That Have Never Cut Their Distributions

Feb. 01, 2021 1:51 PM ETBME, DNP, FEN, GLU, GLU.PR.A, GLU.PR.B, GOF, PCN, PDI, UTG9 Comments
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In a recent article exclusive to CEF/ETF Income Laboratory members we went over 7 funds that have never cut their distribution since their inception. Not only that but had an inception pre-dating the financial crisis of 2008/09. This is an important date as many investors know a majority of funds with inceptions before this date, have all cut their distributions.

It is important to note, that investing based on whether a CEF has cut its distribution or not, isn't the only metric one should look at. We would really want to make sure they are still at sustainable levels going forward. Additionally, just because a fund cuts its distribution also doesn't make it a bad fund at all. There are plenty of funds showing great total returns, cutting just being a necessary part to keep their funds sustainable.

This is just a shortlist of potential candidates for further research. Though I do believe that most of these funds are doing something right to be able to brag about this accomplishment. Members of the CEF/ETF Income Laboratory are enjoying an exclusive look at a deeper dive in these funds and the discussion centered around their sustainability. That being said, here are the funds that meet the simple criteria;

Guggenheim Strategic Opportunities Fund (GOF)

(Source - CEFConnect)

Gabelli Global Utility & Income Fund (GLU)

(Source - CEFConnect)

BlackRock Health Sciences Trust (BME)

(Source - CEFConnect)

Reaves Utility Income Fund (UTG)

(Source - CEFConnect)

DNP Select Income Fund Inc. (DNP)

(Source - CEFConnect)

PIMCO Corporate & Income Strategy Fund (PCN)

(Source - CEFConnect) 

PIMCO Income Opportunity Fund (PKO)

(Source - CEFConnect)

One fund that had previously qualified has now fallen off and ended its streak in 2020.

First Trust Energy Income and Growth Fund (FEN)

(Source - CEFConnect)


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Stanford Chemist, Nick Ackerman, Alpha Male, Juan de la Hoz and Dividend Seeker

Analyst's Disclosure: I am/we are long BME, UTG, PKO.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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