Here is a closed end fund I put in my portfolio earlier this month. It's a high yield taxable fund in the mortgage sector, but it is diversified. I was attracted to it because it had been dramatically beaten down and for the past year has been moving sideways and up with little volatility. I am led to believe that those that are holding it want the income stream, but it looks like a good bet for some sizable capital gains some years down the road.
This fund was trading over $20/share in June of 2007, so you can see how much it's fallen. Yield is currently 9.48% and it is currently trading at a discount of 9.43% to NAV.
Attachment 9763
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