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The Chemist's CEF Report - July 2018: Treasury Yield Spread Continues To Narrow

Published Sat, 28 Jul 2018 10:22:19 -0400 on Seeking Alpha

For the inaugural issue of The Chemist's CEF Report (September 2016), describing the background and rationale of the Report, please click here.
This edition uses data taken from the close of July 3, 2018. Previous editions of the Report can be searched using the keyword "cefrep".
Methodology A database of CEFs was obtained from CEFConnect. All yields are quoted as the yield on price. All z-scores refer to the 1-year z-score, which I consider to be the most useful time duration for profiting from premium/discount reversion. The 1-year z-score is calculated as the difference between the current premium/discount and the 1-year average premium/discount, all divided by the standard deviation of said premium/discount. Positive z-scores indicate that the CEF's current premium/discount is higher than its historical average, while negative z-scores indicate that the current premium/discount is lower than the historical average. Incorporating the standard deviation into the z-score calculation enables comparison between CEFs that may have different magnitudes of absolute premia and discounts.
In the tables, "distance" refers to the distance between the current premium/discount of the fund and its 1-year historical premium/discount. "Coverage" refers to the ratio between a fund's earnings and its distribution, with coverage ratios greater than 100% indicating that the fund is earning more than it pays out in distributions.
Key to table... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
SWISS HELVETIA FUND 8.13   0.0 0.00 4.91 60.77
MORGAN STANLEY INDIA INVESTMENT FUND 18.22   0.0 0.00 0.00 41.98
CORNERSTONE TOTAL RETURN FUND 11.38   0.0 0.00 2.48 22.00
CORNERSTONE STRATEGIC VALUE FUND 11.65   0.0 0.00 0.00 21.09
OXFORD LANE CAPITAL 9.73   0.0 0.00 1.62 16.65
STONE HARBOR EMERG MARKET FUND 13.46   0.0 0.00 0.00 16.01
EAGLE POINT CREDIT 16.14   0.0 -1.13 2.40 14.64
GABELLI GLOBAL GOLD NAT RES & INC TRUST 4.44   0.0 0.00 0.00 13.48
ZWEIG FUND 10.98   0.0 0.00 1.44 13.14
ZWEIG TOTAL RETURN FUND 10.84   0.0 0.00 1.47 12.26
CLOUGH GLOBAL EQUITY FUND 11.85   0.0 0.00 0.00 11.65
GUGGENHEIM STRATEGIC OPPORTUNITIES FUND 19.51   0.0 0.00 0.00 11.10
NICHOLAS-APP CONV & INCOME 5.68   0.0 0.00 0.00 10.90
FRANKLIN TEMPLETON LIMITED DURATION INCOME TRUST 9.46   0.0 0.00 0.00 10.86
NICHOLAS-APP CONV & INCOME II 5.09   0.0 0.00 0.00 10.57
FIRST TRUST ABERDEEN EMERGING OPPORTUNITY FUND 13.77   0.0 0.00 0.00 10.17
MACQUARIE/FIRST TRUST GLOB INFRA/UTIL DIV & INC FUND 9.96   0.0 0.00 0.00 10.13
PIMCO GLOBAL STOCKSPLUS 11.55   0.0 0.00 0.00 9.68
CALAMOS GLOBAL TOTAL RETURN FUND 12.54   0.0 0.00 1.20 9.67
PIMCO HIGH INCOME FUND 7.80   0.0 0.00 0.00 9.34
ABERDEEN ASIA-PACIFIC INCOME FUND 4.20   0.0 0.00 0.38 9.11
EATON VANCE TAX MAN GLOBAL BUY WRITE OPP FUND 9.67   0.0 0.00 0.00 9.03
CALAMOS CONVERTIBLE AND HIGH INCOME FUND 11.37   0.0 0.00 1.02 9.02
MORGAN STANLEY EMERGING MARKETS DOM DEBT FUND 6.69   0.0 0.00 0.00 9.01
FIRST TRUST HIGHOME LONG/SHORT FUND 14.97   0.0 0.00 0.00 8.82
EATON VANCE TAX-MAN GLOBAL DIVERSIFIED 8.36   0.0 0.00 0.00 8.75
PCM FUND 10.96   0.0 0.00 0.00 8.71
PIMCO INCOME OPPORTUNITY FUND 26.33   0.0 0.00 0.00 8.63
PIMCO CORPORATE OPPORTUNITY FUND 18.05   0.0 0.00 1.69 8.59
WESTERN ASSET EMERGING MARKETS INCOME FUND 13.97   0.0 0.00 0.00 8.58
FIRST TRUST ABERDEEN GLOBAL OPPORTUNITY INCOME FUND 10.79   0.0 0.00 0.00 8.58
GABELLI UTILITY TRUST 7.20   0.0 0.00 0.00 8.26
COHEN & STEERS GLOBAL INCOME BUILDER 9.13   0.0 0.00 0.00 8.22
LIBERTY ALL STAR GROWTH FUND 5.94   0.0 0.00 0.00 8.18
PIMCO STRATEGIC GLOBAL GOVERNMENT FUND 9.17   0.0 0.00 0.00 8.04
DELAWARE INVESTMENTS DIVIDEND & INCOME FUND 13.87   0.0 0.00 0.00 7.93
PUTNAM MASTER INTERMEDIATE INCOME TRUST 4.60   0.0 0.00 0.00 7.79
BLACKROCK DEBT STRATEGIES FUND 10.78   0.0 0.00 0.00 7.63
PIMCO CORPORATE INCOME FUND 17.67   0.0 0.00 0.00 7.53
BLACKROCK INT GROWTH AND INCOME TRUST 5.50   0.0 0.00 0.00 7.40
MACQUARIE GLOBAL INFRA TOTAL RETURN FUND 23.88   0.0 0.00 0.00 7.07
NUVEEN S&P 500 BUY-WRITE INCOME FUND 13.02   0.0 0.00 0.00 7.05
NUVEEN REAL ESTATE INCOME FUND 10.71   0.0 0.00 0.00 6.99
AGIC EQUITY & CONVERTIBLE INCOME FUND 22.19   0.0 0.00 0.00 6.90
EAGLE CAPITAL GROWTH FUND 7.91   0.0 0.00 0.00 6.70
DIVIDEND ANDOME FUND 12.00   0.0 0.00 0.00 6.67
RMR REAL ESTATE INCOME FUND 20.04   0.0 0.00 0.00 6.66
BLACKROCK FLOATING RATE INCOME 12.31   0.0 0.00 0.00 6.52
BLACKROCK ENHANCED CAPITAL AND INCOME FUND 16.19   0.0 0.00 0.00 6.19
DNP SELECT INCOME FUND 12.79   0.0 0.00 0.78 6.07
BLACKROCK CREDIT ALLOCATION INCOME TRUST IV 13.75   0.0 0.00 0.00 5.82
SPDR BARCLAYS CAPITAL HIGH YIELD BOND ETF 108.94   0.0 0.00 6.07 5.58
NEW IRELAND FUND 8.55   0.0 0.00 0.00 5.19
FRANKLIN UNIVERSAL TRUST 7.57   0.0 0.00 0.38 5.09
PIMCO MUNICIPAL INCOME FUND II 15.32   0.0 0.00 0.00 4.99
PIMCO CALIFORNIA MUNICIPAL INCOME FUND 19.48   0.0 0.00 0.00 4.69
GABELLI GLOBAL DEAL FUND 9.39   0.0 0.00 0.00 4.26
BOULDER GROWTH & INCOME FUND 11.20   0.0 0.00 0.00 3.65
MASSACHUSETTS HEALTH & EDUCATION TAX-EXEMPT TRUST 13.35   0.0 0.00 0.00 3.62
BLACKROCK VIRGINIA MUNICIPAL BOND TRUST 17.10   0.0 0.00 0.00 3.25
CENTRAL SECURITIES 31.72   0.0 0.00 0.61 1.95
SPDR S&P 500 ETF 301.29   0.0 0.00 5.42 1.82
LATIN AMERICAN DISCOVERY FUND 12.19   0.0 0.00 0.00 0.97
GENERAL AMERICAN INVESTORS 36.81   0.0 0.00 0.30 0.82

SWISS HELVETIA FUND - SWZ
SWISS HELVETIA FUND - SWZ  


Older articles featuring Swiss Helvetia Fund (SWZ):
Options For Alpha In Activist-Driven Yield Plays
Closed-End Funds With Yields Over 5%
10% Sale On Closed-End Dividend Funds
10% Sale On Closed-End Dividend Funds
Payback Periods For Discount CEFs With Dividends
Global ETFs and CEFs: An Income Investor's Hunt for Yield

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