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Equity CEFs: What's Gotten Into DPD?

|Includes: DIAX, Nuveen Dow 30SM Dynamic Overwrite Fund (DIAX)

If you own DPD or looking for a good hedge on the Dow Jones Industrial Average (DJIA), you might want to sell or short DPD up here at $16.05, up 4% right now and at a premium valuation.

Looks like someone has a forced buy-in going on since I don't know why anyone would be buying DPD up this much otherwise. If any DJIA CEF should be at a premium, it should be DPO since DPO has MUCH more NAV upside than DPD in a strong market. DPO also has a higher yield than DPD too.

Crazy things going on in the CEF universe!

Disclosure: I am long DPO.