NAVCurrently hovering around $14.41. Premium is now a bloated $0.74. I simply cannot understand the logic of people willing to pay so much excess premiums on a fund that is getting close to 5% underwater.
The dividends are clearly unsustainable since the fund does not even collect enough to pay preferred shareholders, let alone the management fees and capital shareholders. Any payments are a return of capital which further erodes the NAV.
Sure, there may be some random payments in the future, but how does that justify overpaying by so much for such a fund?