FYI: For the first month in six equity CEFs on average witnessed negative performance on
both a NAV basis and a market basis, declining 0.41% and 0.69%, respectively, for
September. For the first time in five months and three months, respectively, their fixed
income CEF counterparts also posted negative returns on a NAV basis (-0.07%) and
a market basis (-1.36%). Continuing trade-war concerns, declines in mega-cap tech
stocks, and worries over Italy’s budget crisis weighed on tech-oriented and small-cap
issues despite a better-than-expected August nonfarm-payrolls report, encouraging
economic news, and the Dow Jones Industrial Average’s hitting all-time highs during
the month. The DJIA Price Only Index and the S&P 500 Price Only Index—rising 1.90%
and 0.43%—ended the month with the strongest returns, while the Russell 2000 Price
Only Index (-2.54%) and the NASDAQ Composite Price Only Index (-0.78%) were in the
red
Regards,
Ted
https://lipperalpha.financial.thomsonreuters.com/wp-content/uploads/2018/10/FMIR-US-CE-M-20180930-TR.pdf
