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Last year, we were looking at distribution changes due to the COVID pandemic sell-off. CEFs distribute out most of their earnings as distributions, so they pay relatively higher yields. However, relatively higher yields mean that any downturn is likely to cause distribution cuts. ...
Saba Capital has taken aim at the Voya funds. An analysis of possible future steps in the battle. Possible arbitrage opportunities for the outside investor are available. For further details see: Activist Saba Vs. Sponsor Voya: The Battle Is On
Saba succeeds in forcing liquidation of IRR, scheduled for June 11. At a current discount of -1.79%, an annualized alpha of ~14% remains. However, finding an effective hedge for IRR may be difficult. For further details see: IRR: Liquidation Nears
Voya is going through a purge of its option-income CEFs. Already this year, Voya has announced the liquidation of two of its funds, IID and IRR. Why are they doing this? I'm guessing because the economies of scale don't work as well when the funds get down to around $100 mil...
Cohen & Steers proposes liquidation of MIE, an underperforming MLP/midstream fund. The proposal requires a shareholder vote, but the market appears to be pricing in a positive outcome. Opportunity and risk remain for investors of MIE. For further details see: Opportu...
For those who think that CEF market prices can defy gravity like stocks such as GameStop in which value is in the eye of the beholder, I've got news for you. And for those Robinhood, Reddit or retail investors who may stumble upon this article as part of a research effort, understand ...
Sixteen out of 23 CEF sectors positive on price and 14 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. Limited duration is the highest-yielding CEF sector. For further details see: Weekly Closed-End Fund Roundup: January 17, 2021
The Board of Trustees (“the Board”) of Voya International High Dividend Equity Income Fund (the “Fund”) (NYSE: IID) has approved a Plan of Liquidation and Termination for the Fund. The Plan of Liquidation and Termination is expected to take effect on or about...
Voya International High Dividend Equity Income Fund (IID) declares $0.03/share monthly dividend, in line with previous.Forward yield 8.35%Payable Nov. 16; for shareholders of record Nov. 3; ex-div Nov. 2.See IID Dividend Scorecard, Yield Chart, & Dividend Growth. For further details see...
Author's note: this article was released to members of CEF/ETF Income Laboratory on June 28, 2020. Please check latest data before investing. The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors ...
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Voya International High Dividend Equity Income Fund of Beneficial Interest Company Name:
IID Stock Symbol:
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The Board of Trustees (“the Board”) of Voya International High Dividend Equity Income Fund (the “Fund”) (NYSE: IID) has approved a Plan of Liquidation and Termination for the Fund. The Plan of Liquidation and Termination is expected to take effect on or about...
Voya Investments, LLC (the "Adviser") announced today an open-market share repurchase program for the following closed end funds: The Funds’ Board of Trustees has authorized an open-market share repurchase program pursuant to which each Fund may purchase up to 10% of its stock in o...
The Board of Trustees (“the Board”) of Voya International High Dividend Equity Income Fund (the “Fund”) ( NYSE: IID) has approved changes to the Fund’s sub-advisory relationship. In connection with these approvals, the investment strategies, benchmark, and ...