I've been holding a closed-end fund for many years, $ETB (Eaton-Vance Tax-Managed Buy-Write Income). I don't check it's NAV very often, but I was surprised to find out that it was trading at a premium of 16% to NAV.
So, I sold it and will redeploy my cash into $XYLD (Global X S&P500 Covered-Call ETF) which is an open-ended fund that accomplishes a similar objective.
While I will realize some long-term capital gains, $ETB has often traded at a discount (I had historically bought it when the price was at least a 10% discount to NAV).
For some reason, 4 of the top 5 closed-end equity funds trading at a premium are sponsored by Eaton Vance ($ETB 16%, $ETV 15%, $STK 12%, $ETY 10%, $ETJ 10%).
Hope this message is of interest to some of who who may be fortunate to be holding these closed end funds.
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