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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 7.60   0.0 0.00 5.11 66.96
MORGAN STANLEY INDIA INVESTMENT FUND 20.62   0.0 0.00 0.00 36.97
CORNERSTONE TOTAL RETURN FUND 12.03   0.0 0.00 2.60 21.94
CORNERSTONE STRATEGIC VALUE FUND 12.22   0.0 0.00 0.00 20.11
STONE HARBOR EMERG MARKET FUND 12.74   0.0 0.00 0.00 16.95
OXFORD LANE CAPITAL 10.52   0.0 0.00 1.62 15.08
ZWEIG FUND 9.88   0.0 0.00 1.44 14.72
EAGLE POINT CREDIT 17.01   0.0 -2.29 2.40 14.07
GABELLI GLOBAL GOLD NAT RES & INC TRUST 4.33   0.0 0.00 0.00 13.82
ZWEIG TOTAL RETURN FUND 10.86   0.0 0.00 1.36 12.42
GUGGENHEIM STRATEGIC OPPORTUNITIES FUND 19.85   0.0 0.00 0.00 11.02
FRANKLIN TEMPLETON LIMITED DURATION INCOME TRUST 9.71   0.0 0.00 0.00 10.81
MACQUARIE/FIRST TRUST GLOB INFRA/UTIL DIV & INC FUND 11.19   0.0 0.00 0.00 10.70
NICHOLAS-APP CONV & INCOME 5.95   0.0 0.00 0.00 10.48
CLOUGH GLOBAL EQUITY FUND 13.17   0.0 0.00 0.00 10.46
NICHOLAS-APP CONV & INCOME II 5.26   0.0 0.00 0.00 10.25
ABERDEEN ASIA-PACIFIC INCOME FUND 4.10   0.0 0.00 0.41 10.11
FIRST TRUST ABERDEEN EMERGING OPPORTUNITY FUND 14.01   0.0 0.00 0.00 9.99
PIMCO HIGH INCOME FUND 7.73   0.0 0.00 0.00 9.50
CALAMOS GLOBAL TOTAL RETURN FUND 12.87   0.0 0.00 1.20 9.20
CALAMOS CONVERTIBLE AND HIGH INCOME FUND 11.01   0.0 0.00 1.02 9.19
PIMCO GLOBAL STOCKSPLUS 12.43   0.0 0.00 0.00 9.10
MORGAN STANLEY EMERGING MARKETS DOM DEBT FUND 6.55   0.0 0.00 0.00 9.09
PIMCO CORPORATE OPPORTUNITY FUND 17.50   0.0 0.00 1.56 8.96
EATON VANCE TAX-MAN GLOBAL DIVERSIFIED 8.30   0.0 0.00 0.00 8.90
COHEN & STEERS GLOBAL INCOME BUILDER 8.52   0.0 0.00 0.00 8.76
EATON VANCE TAX MAN GLOBAL BUY WRITE OPP FUND 9.94   0.0 0.00 0.00 8.73
GABELLI UTILITY TRUST 6.98   0.0 0.00 0.00 8.65
WESTERN ASSET EMERGING MARKETS INCOME FUND 13.89   0.0 0.00 0.00 8.64
PIMCO INCOME OPPORTUNITY FUND 26.57   0.0 0.00 0.00 8.60
PCM FUND 11.21   0.0 0.00 0.00 8.56
FIRST TRUST HIGHOME LONG/SHORT FUND 14.76   0.0 0.00 0.00 8.53
FIRST TRUST ABERDEEN GLOBAL OPPORTUNITY INCOME FUND 10.01   0.0 0.00 0.00 8.37
PUTNAM MASTER INTERMEDIATE INCOME TRUST 4.51   0.0 0.00 0.00 8.04
PIMCO CORPORATE INCOME FUND 17.01   0.0 0.00 0.00 7.91
DELAWARE INVESTMENTS DIVIDEND & INCOME FUND 13.75   0.0 0.00 0.00 7.88
BLACKROCK DEBT STRATEGIES FUND 10.74   0.0 0.00 0.00 7.66
PIMCO STRATEGIC GLOBAL GOVERNMENT FUND 9.58   0.0 0.00 0.00 7.66
NUVEEN REAL ESTATE INCOME FUND 10.12   0.0 0.00 0.00 7.58
MACQUARIE GLOBAL INFRA TOTAL RETURN FUND 22.34   0.0 0.00 0.00 7.49
RMR REAL ESTATE INCOME FUND 18.34   0.0 0.00 0.00 7.26
BLACKROCK INT GROWTH AND INCOME TRUST 5.63   0.0 0.00 0.00 7.22
NUVEEN S&P 500 BUY-WRITE INCOME FUND 13.31   0.0 0.00 0.00 7.00
AGIC EQUITY & CONVERTIBLE INCOME FUND 21.94   0.0 0.00 0.00 6.96
LIBERTY ALL STAR GROWTH FUND 5.87   0.0 0.00 0.00 6.86
DIVIDEND ANDOME FUND 11.84   0.0 0.00 0.00 6.79
EAGLE CAPITAL GROWTH FUND 7.77   0.0 0.00 0.00 6.79
DNP SELECT INCOME FUND 11.56   0.0 0.00 0.78 6.75
BLACKROCK CREDIT ALLOCATION INCOME TRUST IV 12.56   0.0 0.00 0.00 6.35
BLACKROCK ENHANCED CAPITAL AND INCOME FUND 16.19   0.0 0.00 0.00 6.14
BLACKROCK FLOATING RATE INCOME 12.56   0.0 0.00 0.00 5.91
SPDR BARCLAYS CAPITAL HIGH YIELD BOND ETF 36.16   0.0 0.00 2.02 5.59
FRANKLIN UNIVERSAL TRUST 6.98   0.0 0.00 0.38 5.50
PIMCO MUNICIPAL INCOME FUND II 14.58   0.0 0.00 0.00 5.42
PIMCO CALIFORNIA MUNICIPAL INCOME FUND 17.95   0.0 0.00 0.00 5.15
NEW IRELAND FUND 9.48   0.0 0.00 0.00 4.67
GABELLI GLOBAL DEAL FUND 9.41   0.0 0.00 0.00 4.24
MASSACHUSETTS HEALTH & EDUCATION TAX-EXEMPT TRUST 12.54   0.0 0.00 0.00 4.21
BLACKROCK VIRGINIA MUNICIPAL BOND TRUST 15.80   0.0 0.00 0.00 3.99
BOULDER GROWTH & INCOME FUND 11.04   0.0 0.00 0.00 3.69
CENTRAL SECURITIES 30.02   0.0 0.00 0.56 1.88
SPDR S&P 500 ETF 292.23   0.0 0.00 5.24 1.80
LATIN AMERICAN DISCOVERY FUND 12.19   0.0 0.00 0.00 0.97
GENERAL AMERICAN INVESTORS 34.84   0.0 0.00 0.30 0.87

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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