2024-03-23 05:35:59 ET
Summary
- We review CEF market valuation and performance through the third week of March and highlight recent market action.
- Most CEF sectors saw lower NAVs due to the drop in stocks and Treasuries, but discounts tightened in all but 3 sectors.
- Saba is in a fight with ASA Gold & Precious Metals CEF, which has adopted a rights offering to dilute Saba.
- Apollo credit CEF Tactical Income Fund hiked its distribution, while Virtus Total Return Fund is holding a tender offer for up to 10% of shares.
Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund ("CEF") market activity from both the bottom-up - highlighting individual fund news and events - as well as the top-down - providing an overview of the broader market. We also try to provide some historical context as well as the relevant themes that look to be driving markets or that investors ought to be mindful of....
Read the full article on Seeking Alpha
For further details see:
CEF Weekly Review: Saba Takes The Gloves Off