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Monthly Paying Closed-End Funds

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ReturnsPortfolio DetailsAbout Closed-End Funds

Managed high-dividend closed-end funds typically outperform high-dividend conventional (open end) mutual funds and ETFs focusing on the same sector. This portfolio contains monthly-paying fixed-income closed-end funds.

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February Wrap-Up  (3/1/24)

Monthly 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

Year to Date
NAV Return

Premium/
Discount

BlackRock Energy & Resources

3/1/23

2.0%

-0.2%

4.4%

2.5%

1.5%

-13.5%

Calamos Strategic Total Return   

12/1/18

3.7%

7.8%

82.2%

5.7%

7.4%

-2.4%

Eagle Point Credit   

8/1/23

1.8%

9.5%

7.8%

-1.7%

3.7%

13.4%

First Trust Energy Infrastructure   

12/1/23

3.5%

2.3%

2.9%

2.7%

1.2%

-4.7%

Invesco Senior Income Trust 

10/1/23

2.0%

3.3%

11.4%

1.1%

1.0%

1.5%

                                    Portfolio Returns: 2.6%

4.2%   2.0%   -1.1%

Looking at 12-month returns, Calamos Strategic and First Trust Energy, both up 25%, have done the best. BlackRock Energy, up 6%, and Eagle Point Credit, up 10%, trail the pack.

As of February 29, our portfolio was trading at an average 1% discount to its net asset value, vs. a 2% discount at January 31 and a 3% discount at December 31.

Closed-End Fund Terminology Definitions Below Table

Ticker

Portfolio Details  Data 2/29/24

Unless otherwise noted, all picks are "buy" rated.

Recent
Price

Yield

Disc/Prem
to NAV

Leverage

Div.
Freq.

Risk

BGR

BlackRock Energy & Resources

 12.29

6.4%

-14%

 0%

M

2

Holds energy and natural resource industry common stocks of all market-caps, about 60% US based. Biggest holdings include Exxon Mobil and Chevron. Pays $0.0657/share. Quote 

CSQ

Calamos Strategic Total Return

15.93

7.7%

-2%

 30%

M

1

Holds mostly U.S.-based stocks (50%+), convertible securities, and high yield corporate bonds. Overweights technology, financial services and healthcare. Pays $0.1025/share. Quote

ECC

Eagle Point Credit

10.08

19.0%

13%

 29%

M

4

Holds equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S. senior secured loans. Pays $0.16/share. Quote

FIF

First Trust Energy Infrastructure

16.64

7.2%

-5%

 20%

M

3

Focuses on energy infrastructure companies such as pipelines, power transmission companies, petroleum and natural gas storage firms. Pays $0.10/share. Quote

VVR

Invesco Senior Income

4.15

11.3%

2%

 33%

M

2

Invesco Senior Income Trust primarily holds floating or variable rate senior loans to corporations. Pays $0.0438/share. 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: All funds in this portfolio pay dividends monthly. 

Information believed correct, but accuracy not guaranteed. Investing in closed-end funds involves risk. Readers should not assume that recommendations will be profitable or will equal the performance of past recommendations. Before investing, consult with a financial advisor to determine if the funds described here are suitable investments for you. 

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