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Post by Chahta on Jan 14, 2024 12:20:26 GMT
Friday PTY jumped up 2.29%. I did not see that type of increase for PDI (or other CEFs). I am curious what happens on days like that. I saw no special news.
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Post by keppelbay on Jan 14, 2024 13:32:02 GMT
Double the normal average daily volume on Friday. Looks like a big buyer taking a position in a hurry may have pushed the price up a bit. No big change in NAV. The fund now trades at a 24% premium, close to the 1 year average. This increases the risk of a short term price correction if the buyer is done. If you have a short term profit this might be an opportune time to take it and wait for a lower re-entry. OTOH, the premium is not excessive based on recent history.
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Post by Chahta on Jan 14, 2024 14:33:47 GMT
PTY appears to have been in correction mode (3-line break) before the increase Friday. keppelbay , you may be right about a selling opportunity. |
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Post by steelpony10 on Jan 14, 2024 14:38:36 GMT
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Post by rhythmmethod on Jan 14, 2024 15:04:40 GMT
I'm not currently holding PTY. One way to take advantage of this situation is to trade a CEF for another of similar dividend to realize a cap gain and /or tax loss harvest. This allows one to continue the dividend stream if that is important to you. Since CEFs make up a small portion of my portfolio and the primary reason is to provide constant income, that is my preferred method instead of going to cash and waiting for a better entry. Good luck.
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