Closed-end funds take their biggest hit in five months as investors demand bigger discounts...

|By:, SA News Editor

Closed-end funds take their biggest hit in five months as investors demand bigger discounts after a weeklong sell-off in bonds - "a little bit of panic selling," says analyst Paul Mazzilli. Funds that traded at the biggest premiums dropped the most yesterday - 32 lost 4% or more, and they traded at a median premium to NAV of 3.3%.