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CEFL Still Attractive With 17.6% Yield

Published Thu, 26 Mar 2015 13:54:18 -0400 on Seeking Alpha

The UBS ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN (NYSEARCA: CEFL) underwent a rebalancing at the end of 2014. The third monthly dividend, based on the new composition of the index upon which CEFL is based, will be paid in April 2015. The dividend will be computed from those components that had ex-dividend dates in March 2015.Of the 30 index components, 29 now pay monthly. Only the Morgan Stanley Emerging Markets Domestic Debt Fund (NYSE: EDD) now pays quarterly dividends in January, April, October, and July. Thus, it will be included in the April 2015 CEFL monthly dividend calculation.Since we will have three months of dividends after the rebalancing, we can annualize the three trailing months of dividends to calculate an annualized yield. This procedure is based on the fact that over a three-month period all of the components would have paid their dividends.My calculation using all the 30 components which are expected to have ex-dividend dates in March 2015 projects a March 2015 dividend of $0.3007. EDD reduced the dividend it has declared with an ex-date of March 27, 2015, and a pay date of April 15, 2015, to $0.22 from $0.25 in the previous quarter. The Nuveen Preferred Income Opportunities Fund (NYSE: JPC) increased the monthly dividend it has declared with an ex-date of March 1, 2015, and a pay date of April 1, 2015, to $0.0655 from $0.0633 in the previous quarter. None of the other closed-end funds in the index changed their dividends from prior levels.The indicative... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
GABELLI GLOBAL GOLD NAT RES & INC TRUST 4.44   0.0 0.00 0.00 13.48
PIMCO HIGH INCOME FUND 7.80   0.0 0.00 0.00 9.34
MORGAN STANLEY EMERGING MARKETS DOM DEBT FUND 6.69   0.0 0.00 0.00 9.01

GABELLI GLOBAL GOLD NAT RES & INC TRUST - GGN
GABELLI GLOBAL GOLD NAT RES & INC TRUST - GGN  


Older articles featuring Gabelli Global Gold Nat Res & Inc Trust (GGN):
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
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