The Eqcome CEF Price and NAV Index increased an average of 2.1% for the month ending February 29th leaving the aggregate discount at 2.8%, the same as January. The Eqcome CEF price index advanced half that of the S&P 500 which rose a more robust 4.1%. This lag is a function of the CEF's market segment being fixed-income "top-heavy".
The Eqcome CEFBig10™ portfolio was up 2.4% for the month, 9.7% YTD and its current annualized yield is 7.4%. (The Eqcome CEFBig10™ is a diversified portfolio of 10 CEF stocks that represent 10 of the major CEF fund types.)
The average monthly discounts for both Eqcome's CEF sub-indices for equity-oriented CEFs and for "Other" fund types narrowed (average share prices increasing greater than NAVs) while the premiums for Muni CEFs and Fixed-Income CEFs declined (average share prices dropping greater than related NAVs). This reflects some of the shift towards equities and away from fixed-income as prospects for the U.S. economy seemed to have improved and the European debt crisis seems on holiday.
The CEF sub-sectors appear to be consolidating and this has historically been positive for equities.
Additional information is available at GrowthIncome Research & Management, LLC.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.