PTA - 5 Closed-End Fund Buys (And 2 Sells) In The Month Of June 2024
2024-07-14 01:35:01 ET
Summary
- June was another month where we saw broader equities hitting new all-time highs.
- However, that participation was rather narrow as the mega-cap tech names led the way higher.
- This last month, I added to or initiated positions in five different closed-end fund names; I sold out of two positions this month.
Every month, I do some buying to build up my monthly cash flow. June 2024 was really no different but I did sell two positions this month as well as adding or initiating five other positions. While I put money to work every month, I also have been letting cash build up because the market has been pushing new highs. It really is mostly the mega-cap tech names driving this push higher, with participation being fairly narrow. We can see that when comparing performance with something like the SPDR S&P 500 ETF ( SPY ) and the Invesco S&P 500 Equal Weight ETF ( RSP )....
5 Closed-End Fund Buys (And 2 Sells) In The Month Of June 2024