Closed-end Funds have been on a roll
A good article in Barron’s on the recent run in closed-end funds. Discounts to NAV have been decreasing with many funds now sporting a premium.
Even apart from this irrational exuberance, between the Dow hovering near a record and discounts shrinking, cheap closed-end funds are tough to find. The Herzfeld Closed-End Fund Average, which is charted with the weekly closed-end fund listings in Barron’s, last week moved to a premium to NAV for the first time in my memory.