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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 7.12   0.0 0.00 5.23 71.19
CORNERSTONE TOTAL RETURN FUND 11.78   0.0 0.00 2.99 23.15
CORNERSTONE STRATEGIC VALUE FUND 12.17   0.0 0.00 0.00 22.85
MORGAN STANLEY INDIA INVESTMENT FUND 22.87   0.0 0.00 0.00 19.99
STONE HARBOR EMERG MARKET FUND 11.48   0.0 0.00 0.00 18.31
OXFORD LANE CAPITAL 9.66   0.0 0.00 1.62 16.63
ZWEIG FUND 9.32   0.0 0.00 1.44 15.73
GABELLI GLOBAL GOLD NAT RES & INC TRUST 3.94   0.0 0.00 0.00 15.27
EAGLE POINT CREDIT 16.50   8.2 2.01 2.40 14.47
NEW IRELAND FUND 8.18   0.0 0.00 0.00 14.17
NICHOLAS-APP CONV & INCOME II 5.13   0.0 0.00 0.00 13.32
NICHOLAS-APP CONV & INCOME 6.03   0.0 0.00 0.00 12.89
ZWEIG TOTAL RETURN FUND 9.87   0.0 0.00 1.36 12.45
MACQUARIE/FIRST TRUST GLOB INFRA/UTIL DIV & INC FUND 9.88   0.0 0.00 0.00 12.26
FRANKLIN TEMPLETON LIMITED DURATION INCOME TRUST 9.31   0.0 0.00 0.00 11.73
PIMCO HIGH INCOME FUND 8.32   0.0 0.00 0.00 11.65
CLOUGH GLOBAL EQUITY FUND 12.20   0.0 0.00 0.00 11.61
PIMCO GLOBAL STOCKSPLUS 12.70   0.0 0.00 0.00 11.38
GUGGENHEIM STRATEGIC OPPORTUNITIES FUND 19.05   0.0 0.00 0.00 11.17
FIRST TRUST ABERDEEN EMERGING OPPORTUNITY FUND 12.55   0.0 0.00 0.00 11.16
EATON VANCE TAX-MAN GLOBAL DIVERSIFIED 8.21   0.0 0.00 0.00 11.07
EATON VANCE TAX MAN GLOBAL BUY WRITE OPP FUND 10.16   0.0 0.00 0.00 10.71
CALAMOS GLOBAL TOTAL RETURN FUND 11.22   0.0 0.00 1.20 10.67
ABERDEEN ASIA-PACIFIC INCOME FUND 4.00   0.0 0.00 0.42 10.53
COHEN & STEERS GLOBAL INCOME BUILDER 8.12   0.0 0.00 0.00 10.16
CALAMOS CONVERTIBLE AND HIGH INCOME FUND 10.16   0.0 0.00 1.02 9.82
GABELLI UTILITY TRUST 6.21   0.0 0.00 0.00 9.74
WESTERN ASSET EMERGING MARKETS INCOME FUND 12.51   0.0 0.00 0.00 9.65
MORGAN STANLEY EMERGING MARKETS DOM DEBT FUND 6.34   0.0 0.00 0.00 9.48
PIMCO CORPORATE OPPORTUNITY FUND 15.37   0.0 0.00 1.56 9.40
LIBERTY ALL STAR GROWTH FUND 4.72   0.0 0.00 0.00 9.36
DELAWARE INVESTMENTS DIVIDEND & INCOME FUND 12.42   0.0 0.00 0.00 9.34
PCM FUND 10.26   0.0 0.00 0.00 9.26
FIRST TRUST HIGHOME LONG/SHORT FUND 13.71   0.0 0.00 0.00 9.19
FIRST TRUST ABERDEEN GLOBAL OPPORTUNITY INCOME FUND 9.25   0.0 0.00 0.00 9.11
PIMCO STRATEGIC GLOBAL GOVERNMENT FUND 9.62   0.0 0.00 0.00 9.09
PIMCO CORPORATE INCOME FUND 15.27   0.0 0.00 0.00 8.85
PIMCO INCOME OPPORTUNITY FUND 25.58   0.0 0.00 0.00 8.85
NUVEEN REAL ESTATE INCOME FUND 9.42   0.0 0.00 0.00 8.62
MACQUARIE GLOBAL INFRA TOTAL RETURN FUND 19.94   0.0 0.00 0.00 8.45
BLACKROCK DEBT STRATEGIES FUND 10.30   0.0 0.00 0.00 7.97
BLACKROCK INT GROWTH AND INCOME TRUST 5.17   0.0 0.00 0.00 7.85
RMR REAL ESTATE INCOME FUND 17.26   0.0 0.00 0.00 7.75
NUVEEN S&P 500 BUY-WRITE INCOME FUND 12.96   0.0 0.00 0.00 7.66
AGIC EQUITY & CONVERTIBLE INCOME FUND 19.86   0.0 0.00 0.00 7.65
DIVIDEND ANDOME FUND 10.50   0.0 0.00 0.00 7.57
EAGLE CAPITAL GROWTH FUND 7.50   0.0 0.00 0.00 7.31
DNP SELECT INCOME FUND 10.91   0.0 0.00 0.78 7.08
BLACKROCK CREDIT ALLOCATION INCOME TRUST IV 11.59   0.0 0.00 0.00 6.90
BLACKROCK ENHANCED CAPITAL AND INCOME FUND 14.79   0.0 0.00 0.00 6.69
BLACKROCK FLOATING RATE INCOME 12.12   0.0 0.00 0.00 6.08
PUTNAM MASTER INTERMEDIATE INCOME TRUST 4.41   0.0 0.00 0.00 5.97
FRANKLIN UNIVERSAL TRUST 6.54   0.0 0.00 0.38 5.89
PIMCO MUNICIPAL INCOME FUND II 13.08   0.0 0.00 0.00 5.86
PIMCO CALIFORNIA MUNICIPAL INCOME FUND 16.12   0.0 0.00 0.00 5.75
SPDR BARCLAYS CAPITAL HIGH YIELD BOND ETF 34.70   0.0 0.00 1.97 5.72
MASSACHUSETTS HEALTH & EDUCATION TAX-EXEMPT TRUST 11.96   0.0 0.00 0.00 4.44
GABELLI GLOBAL DEAL FUND 9.08   0.0 0.00 0.00 4.39
BLACKROCK VIRGINIA MUNICIPAL BOND TRUST 15.78   0.0 0.00 0.00 4.07
CENTRAL SECURITIES 25.72   0.0 0.00 0.56 2.16
SPDR S&P 500 ETF 269.84   0.0 0.00 5.02 1.86
GENERAL AMERICAN INVESTORS 30.67   0.0 0.00 0.30 0.98
LATIN AMERICAN DISCOVERY FUND 12.19   0.0 0.00 0.00 0.97
BOULDER GROWTH & INCOME FUND 10.49   0.0 0.00 0.00 0.00

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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