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XLE - PEO: Deeply-Discounted Equity CEF For Energy And Natural Resource Exposure
SPDR Select Sector Fund - Energy Select Sector
Investment Thesis
Part of my investment theme in 2019 has been to search for value in the market in unconventional ways - one method of uncovering value is the universe of discounted closed-end funds or CEFs.
Additionally, I had trimmed my energy exposure in 2018 by taking profits on some offshore drilling stocks and was looking for a place to park that capital to maintain exposure to the energy sector.
I stumbled across Adams Natural Resources Fund (PEO), and despite several material drawbacks, I decided that it was an appropriate investment given my