|
CEF
Growth Opportunities
Growth Oriented
Closed-End Funds
Click
here
for printable (PDF) version
Returns
• Portfolio Details
• About Closed-End
Funds
Managed closed-end
funds typically outperform conventional (open end) mutual funds and ETFs focusing
on the same sector. This portfolio contains high-dividend closed-end funds that
also offer strong growth opportunities.
Tell us how could we make this page more useful to you.
|
February
Wrap-Up
(3/1/24)
|
Closed-End Fund Returns
Returns: price changes plus dividends
|
Date
Added |
Last Month's
Mkt. Return |
Year To Date
Mkt.
Return |
Mkt.
Return
Since Added |
Last Month's
NAV Change |
|
BR Resources & Commodities |
6/1/22 |
-1.9%
|
-5.8%
|
1.4% |
-1.1% |
|
C.S.
Premium Tech. Growth |
8/1/22 |
3.3%
|
6.0%
|
49.5% |
3.5% |
|
ClearBridge Energy MLP |
9/1/22 |
4.6%
|
9.9%
|
11.1% |
5.7% |
|
Miller/Howard High Income |
3/1/22 |
1.1% |
1.0% |
21.7% |
1.5% |
|
Sprott Focus Trust |
5/1/22 |
0.0% |
-3.5% |
11.9% |
1.2% |
|
Portfolio Returns 1.4% |
1.4% |
|
2.2% |
|
|
Looking at returns since added to the portfolio, C.S.
Premium Technology Growth, up 50% since added in August
2022, and Miller/Howard, up 22% since added in March 2022,
led the pack.
As of February 29, our portfolio was
trading at a 6% discount to its net asset value vs. a 5%
discount at January 31, and a 6% discount at December 31.
Suggested Changes
If we were continuing this
portfolio we would consider replacing BlackRock Resources
and Sprout Focus Trust with 1) Barings Corporate Investors
(MCI) which pays an 8.0% yield and has returned 49% over
12-months, and 2) KKR Income Opportunities (KIO) which is
paying 10.8% and has returned 34% over 12-months.
|
|
Closed-End Fund Terminology Definitions Below Table
|
|
Ticker |
Portfolio Details
2/29/24
Unless otherwise noted, all
picks are "buy" rated |
Recent
Price |
Div.
Yield |
Disc/Prem
to NAV |
Leverage |
Div.
Freq. |
Risk |
|
BCX |
BlackRock
Resources & Commodities
|
8.31 |
7.5% |
-16% |
1% |
M |
3 |
|
BlackRock Resources & Commodities
Strategy holds common stocks, mostly energy or natural resource
plays, about half based in the U.S. and Canada. It employs an option
writing strategy to generate income to pay dividends.
Pays $0.052 monthly.
Quote
|
|
STK |
C. S. Premium Technology Growth
|
33.03 |
7.5% |
11% |
0% |
Q |
2 |
|
Columbia Seligman Technology Growth holds mainly large-cap technology stocks that it views as
having long-term capital appreciation prospects. It also employs an
option strategy to generate income to pay dividends. It pays $0.463
quarterly and paid a special $0.27 per share dividend in December
2023.
Quote
|
|
CTR |
ClearBridge Energy MLP & Midstream |
38.40 |
7.3% |
-8% |
28% |
Q |
1 |
|
ClearBridge Energy MLP & Midstream Total Return holds
a mix of large- medium- and small-cap master limited partnerships
(MLPs) that own natural gas and crude oil pipelines. A serial
dividend grower, it's last quarterly payout was $0.70 per share, up
30% vs. year-ago.
Quote
|
|
HIE |
Miller/Howard High Income |
10.61 |
5.8% |
-4% |
1% |
M |
3 |
|
Miller/Howard High Income Equity holds
high-dividend paying U.S.-based equities. Biggest holdings include
financials and energy stocks. Pays $0.051 monthly.
Quote
|
|
FUND |
Sprott Focus Trust |
7.72 |
6.5% |
-10% |
0% |
Q |
3 |
|
Holds a diversified collection of 35 or so
mostly U.S.-based large-cap stocks. Following a buy and hold
strategy, annual portfolio turnover is only 22%. Pays variable
dividends around $0.125 quarterly.
Quote
|
|
Closed-End Fund Terminology
Risk Rating:
Estimates risk of loss due to overall market or
sector volatility.
One is lowest risk, three is average, and five is highest risk.
Net Asset Value: per share
value of fund's assets.
Disc/Prem to NAV
(discount/premium to net asset value): share price vs. net asset value.
All else equal, funds trading at a discount to net asset value will pay
higher yields than similar funds trading at a premium to NAV. However,
some funds almost always trade at a premium, while others typically trade
at a discount.
Leverage:
Some funds employ borrowed funds to enhance returns. Leverage is the
percentage of borrowed funds vs. total assets. Leveraged funds earn more
than non-leveraged funds when interest rates are low, but underperform
when carrying costs exceed investment profit margins.
Div. Freq: dividends can be paid
monthly (M) or quarterly (Q).
|
|
