RE:RE:RE:RE:Nav over 15 bucks at market closeYou are right Navgod. Similar covered call ETF's don't have anyway near the yield this product has. FTN must be returning capital as the divs plus the call premiums don't equal the payout. They are levered somewhat because of the split nature of the shares while only paying out 5.5% on the preferred. Perhaps this is why they have to keep issuing new shares to restore the capital being paid out.