RE:NAV July 11AnEducator wrote: ~$14.86. The NAV needs to rise by less than 1% to get to $15.00, but clearly euphoric investors have finally seen the light and realize that a significant premium is completely unwarranted for a fund whose distributions have become questionable going forward.
This is not to say they will be unable to pay at all, just that they will no longer be as regular as they have been in the past. DGS is a great comparison.
I must admit, I did not see such a violent, precipitous decline with a distribution within reach. The volume of almost 4.3 million shares is absolutely astounding. I don't ever recall seeing it so high.
I would say a lot of stop-losses got hit by the sellers and perhaps even the shorties adding to the pain...
was a long overdue correction. This does happen at times with severe corrections in the markets.. but really the markets have only been a bit bumpy. ATM machine helped keep DFN commons at the lofty levels...