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CEF Preferred Funds

Don't understand the weakness in these Preferred funds, PDT and FFC. Trading at discounts to NAV, over 8% distributions, NAV are steady doing better than market price. Outstanding management.


  • @ron: In the preferred stock fund space I prefer PFF.
  • I'd agree Ted if I would have been able to buy it back when you did. Instead I'm stuck with FPF. No complaints.
  • PDT is only 68% preferreds. They have about 30% in straight equities- with a large allocation to utilities. FFC is a good fund, but only trades at a -2% discount. There are some other preferred CEFs trading at double digit discounts- JTP, JHP, JPC, JPI, PSF and a few others.
  • other holdings, some bonds and equities are the drag on performance for both PDT and FFC. With an 8+% distribution, patience will pay off as in pervious years. Quality is the difference.
  • Wish bought more in 2009. Do you think these are overpriced?
  • John, I'm sorry I can't give you an informed response since I hold what I consider to be the best funds for my age (81) and objectives. While I don't think they are overpriced, they were my best holdings for past year and no intension of selling.
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