T - HIE: Near 4% Annual Alpha From This High Dividend Equity Closed-End Term Fund
Author's note: This article was released to CEF/ETF Income Laboratory members on April 29, 2020, with certain numbers updated. Please check the latest data before investing.
Main thesis
The main thesis is that potential "pull-to-par" alpha from Miller/Howard High Income Equity Fund's (HIE) term structure means that the current discount is attractive.
Introduction
HIE is a high dividend closed-end equity fund that we had owned in our original Tactical Income portfolio from way back in 2016, but sold it as its discount contracted to near parity.
Why did we sell it? HIE