GOF - GOF: Back To Holding For The 15% Distribution

2024-05-07 10:29:18 ET

Summary

• Guggenheim Strategic Opportunities Fund suffered a severe drop in price due to market volatility in October 2023.
• There may be an opportunity for new investors to buy if the premium is reduced in the coming months.
• GOF offers a monthly distribution with an average yield of about 15% and has never cut its dividend.

It was just about a year ago that I suggested to Watch For A Strategic Opportunity To Generate High-Yield Income . The opportunity that I was referring to happened in October 2023 when the Guggenheim Strategic Opportunities Fund (GOF), that offers income investors a juicy yield from a monthly distribution that currently amounts to about 15% annually, suffered a severe drop in price for no apparent reason other than market volatility. This is what I wrote at the time:

There is likely to be an opportunity for new investors to buy if the premium is reduced over the next several months, depending on what happens with the broader market.

For further details see: