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CRF holds a broad portfolio of US stocks and pays a 13.61% distribution.
It's historically traded at a NAV premium. In the last few months, the premium has risen to over 30%.
CRF's track record is good, but not good enough to justify the massive premium.
An upcoming rights offering is an arbitrage opportunity for current holders of the stock, but will likely lead to massive selling pressure. Ironically rights offerings are necessary to sustain the distribution.