FYI: ( One of things that has always bugged the Linkster, is the difference between Market Price and the Net Asset Value of CEFs. When you buy or sell CEFs, its at Market Price not Net Asset Value. So the so-called theory of the CEF selling at a discount or premium doesn't mean a damm. The only time this might come into play would be if the fund were liquidated.)
CEFs are portfolios of securities that pay out dividends and capital gains distributions, but, unlike ETFs, they can’t create or redeem shares on a daily basis. Instead, CEFs come to market with a fixed number of shares. They trade intraday, which means CEFs often trade at premiums or discounts to their net asset value.
Some say part of ETF investors’ lack of interest in CEFs is due to an education gap on what closed-end funds offer. A lot of CEFs today came to market in the 1980s, and new issuance is rare. A lot of investors don’t know how they work, or even why they should care.
Regards,
Ted
https://www.etf.com/sections/features-and-news/understanding-closed-end-funds-etfs?nopaging=1M* Snapshot CEFS:
https://www.morningstar.com/etfs/BATS/CEFS/quote.html
