2017's top 3 closed-end funds owe a great deal of their year-to-date price gain to premium expansion
When a large percentage of your price gain is from premium expansion it's usually a sign indicating caution. But, when 59% of the price gain is due to premium expansion and the asset trades at a 72% premium to net asset value (PGP).......... You're just asking for trouble!
The Pimco StocksPLUS Long Duration Fund (PSLDX) uses a similar strategy to PGP, has a better return since inception, and trades at net asset value. Learn more about PSLDX at the Pimco website.
William "David" Wedeking - President of Jade Reserves, Inc. and publisher of Sensible Speculation
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