DFP -preferred CEF drops 10% +
fwiw, as a PSA as I do not own any.
But we can expect some higher volume liquidations from funds
holding financial issues IMHO.
The Fundís investment objective is to seek total return, with an emphasis on high current income.Under normal market conditions, the Fund invests at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities issued by U.S. and non-U.S. companies.The Fund will invest, under normal market conditions, more than 25% of its total assets in the financials sector, which for this purpose is comprised of the bank, thrifts & mortgage finance, diversified financial services,etc.
They list 42% leverage...
And are showing dividend income down from 11.4 cents to 3.5 cents while postin
long gain 7.8 cents. EOY Nov.
I do not own any fwiw so this is a heads Up PSA.
R..............drpped share price of more than 10% 3/20/23
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|Msg #||Subject||Author||Recs||Date Posted|
|1598||Re: DFP -preferred CEF drops 10% +||lumpygravy||4||3/21/2023 7:36:19 AM|