L58 BARRON’S•Funds Quarterly April 6, 2020
Nuv Dow 30 DynOverwrite (DIAX) .. N 13.25 11.90 – 10.2 – 29.1
Nuv AC Engy MLP Opps(JMLP) ...... N 0.98 1.11 + 13.3 – 82.1
NuvCorEqAlpha (JCE) ..................... N 11.06 10.13 – 8.5 – 22.2
NuveenDiversDiv&Inc (JDD) .......... N 7.78 6.08 – 21.9 – 36.5
NuveenEngy MLP Tot Rtn(JMF) ..... N 1.32 1.37 + 3.8 – 84.4
Nuveen Nasdaq 100 Dyn Ov (QQQX) N 19.65 18.27 – 7.0 – 13.5
Nuv RealEst (JRS) .......................... A 7.11 6.09 – 14.3 – 36.9
NuveenRl Asst Inc & Gro (JRI) ........ N 11.18 9.18 – 17.9 – 38.1
NuvS&P500DynOvFd (SPXX) ......... N NA 11.26 NA – 23.6
NuvSP500BuyIncFd (BXMX) .......... N 11.05 9.81 – 11.2 – 19.9
PIMGlbStkPI (PGP) ........................ N NA 7.52 NA – 33.9
ReavesUtilityIncome (UTG) ............ A 26.30 24.29 – 7.6 – 23.9
RMRRealEstInc (RIF) ..................... A 10.35 7.83 – 24.3 – 54.2
Salient Midstream &MLP (SMM) ... N 4.06 3.23 – 20.4 – 61.7
Tortoise EnergyInd (NDP) .............. N NA 1.22 NA – 83.6
Tortoise EnrgyInfra Crp(TYG) ........ N NA 2.75 NA – 86.9
Tortoise Ess AsstInc Tm (TEAF) ..... N NA 9.92 NA – 46.8
Tortoise MidstreamEnrgy (NTG) .... N NA 0.95 NA – 92.4
Tortoise Pipelne &Enrgy (TTP) ....... N NA 2.80 NA – 80.0
Tortoise Pwr &Engy Infr (TPZ) ....... N NA 7.02 NA – 58.9
Wells FargoUt &Hi Inc(ERH) ......... A NA 9.49 NA – 21.2
Income&PreferredStockFunds
CalamosStratTot (CSQ) .................. N 9.66 8.92 – 7.7 – 23.3
CohenStrsLtdDurPref&Inc (LDP) ... N 19.97 18.50 – 7.4 – 17.6
CohenStrsSelPref&Income (PSF) ... N 20.55 21.00 + 2.2 – 16.6
Del Div& Inc (DDF) ......................... N 7.31 7.46 + 2.1 – 36.2
Dividendand Income (DNI) ............. N 9.73 7.89 – 18.9 – 26.9
Eagle Gr and Inc Opps (EGIF) .......... N NA 9.95 NA – 31.3
FirstTrIntDurPref&Inc (FPF)-a ......... N 17.88 15.89 – 11.1 – 22.0
Gabelli GoAnywhere Tr (GGO) ........ N 8.01 NA NA NA
JHanPrefInc (HPI) .......................... N 14.10 13.57 – 3.8 – 36.3
JHPrefIncII (HPF) ........................... N 13.83 12.95 – 6.4 – 36.6
HnckJPfdInco III (HPS) .................. N 12.37 11.65 – 5.8 – 33.8
J Han Prm(PDT) ............................. N 10.14 10.17 + 0.3 – 33.5
LMP CapInco (SCD) ........................ N NA 7.50 NA – 35.0
NuveenPref & I 2022 Trm(JPT) ...... N 19.27 18.32 – 4.9 – 18.8
NuveenPref & Inc Opp(JPC) .......... N 7.17 6.53 – 8.9 – 26.8
NuveenFd (JPS) ............................. N 7.50 6.61 – 11.9 – 22.6
NuveenPref & Inc Term(JPI) .......... N 18.19 16.84 – 7.4 – 21.0
NuveenTxAdvDivGr (JTD) .............. N 11.92 10.69 – 10.3 – 28.0
TCW StratIncome (TSI)-a ................ N NA 4.45 NA – 12.9
Vivaldi Opportunities (VAM)-a ......... N 11.46 9.78 – 14.7 – 23.3
ConvertibleSec's.Funds
AdvntCnvrtbl&IncFd (AVK) ............. N NA 9.70 NA – 28.2
AllianzGI Con & Inc 2024 (CBH) ...... N 7.92 7.18 – 9.3 – 17.4
GI Conv &Inc (NCV) ....................... N 3.67 3.13 – 14.7 – 42.952Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc Return
AGI Conv &Inc II (NCZ) ................... N 3.29 2.77 – 15.8 – 42.1
AGI DvsInc & Conv (ACV) ............... N 18.49 16.48 – 10.9 – 21.4
AGI Eqty &Conv Inc (NIE) ............... N 19.94 17.28 – 13.3 – 14.0
Bancroft Fund Ltd (BCV) ................. A 20.94 17.74 – 15.3 – 11.9
CalamosConvHi (CHY) ................... N 8.71 7.85 – 9.9 – 22.5
CalmosConvOp (CHI) ..................... N 8.26 7.35 – 11.0 – 22.6
Ellsworth G&I Fund Ltd (ECF) .......... A 9.56 8.04 – 15.9 – 10.8
Gabelli Conv Sec (GCV) ................... N 4.36 3.97 – 8.9 – 15.9
HiIncBd (PCF) ................................. N NA 5.91 NA – 30.8
WorldEquityFunds
AbrdnAusEq (IAF) ........................... A 3.98 3.70 – 7.0 – 22.7
Aberdeen Emg Mkts Eq Inc (AEF) .... A 5.93 4.96 – 16.4 – 31.9
Aberdeen GlblDyn Div(AGD) .......... N 8.36 6.99 – 16.4 – 21.1
Aberdeen Japan Equity (JEQ) .......... N 7.28 5.83 – 19.9 – 15.1
Aberdeen Tot DynDiv (AOD) ........... N 7.32 6.18 – 15.6 – 20.4
Calamos GloDynInc (CHW) ............. N 5.70 5.14 – 9.8 – 29.2
Cdn Genl Inv (CGI)-y ........................ T 25.75 19.00 – 26.2 – 20.4
Central and EasternEuro (CEE) ....... N 21.55 18.20 – 15.5 – 22.3
China (CHN) ................................... N 21.57 18.25 – 15.4 – 8.5
Delaware Enh GlDiv &In (DEX) ....... N 8.30 6.95 – 16.3 – 20.6
EV TxAdvGlbDivInc (ETG) ............... N NA 11.18 NA – 23.9
EtnVncTxAdvOpp (ETO) ................. N NA 16.06 NA – 25.8
Economic Inv Tr (N/A)-cy ................. T 131.65 83.00 – 37.0 NA
European Equity Fund Inc (EEA) ...... N 7.99 6.63 – 17.0 – 21.1
FirstTrAbEmergOp (FEO) ................ N 11.71 9.60 – 18.0 – 22.4
FirstTr Dyn EuroEq Inc (FDEU)-a ...... N 9.94 8.79 – 11.6 – 31.8
Gabelli GlSm&Mid Cp Val (GGZ) ..... N 8.25 6.73 – 18.4 – 39.4
Gabelli Multimedia (GGT)-h ............. N 4.43 4.77 + 7.7 – 35.1
GDL Fund (GDL) ............................. N 9.73 7.61 – 21.8 – 16.0
Herzfeld Caribb(CUBA) .................. O 3.67 2.91 – 20.7 – 43.8
Highland GlobalAlloc (HGLB) ......... N 8.16 4.19 – 48.7 – 63.9
India Fund (IFN) .............................. N 14.78 12.64 – 14.5 – 33.0
J Han HdgdEty & Inc (HEQ) ............ N 11.06 9.69 – 12.4 – 26.3
JHancockTaxAdv GlSh Yld (HTY) ... N 5.55 4.75 – 14.4 – 24.2
Japan Smaller Cap (JOF) ................. N NA 6.52 NA – 20.4
Korea (KF) ...................................... N 25.05 21.25 – 15.2 – 30.3
LazardGlbTotRetInc (LGI) ............... N 13.52 11.25 – 16.8 – 22.5
MexicoEqandIncmFd (MXE) ........... N 7.20 NA NA NA
Mexico (MXF) ................................. N NA 8.03 NA – 40.7
Miller/Howard High Inc E (HIE) ....... N 5.59 4.89 – 12.5 – 51.0
MS ChinaShrFd (CAF)-J ................... N 21.70 17.63 – 18.8 – 25.2
MS India (IIF) .................................. N 14.21 11.63 – 18.2 – 44.5
New Germany (GF) ......................... N 13.23 11.28 – 14.7 – 18.9
New Ireland (IRL) ........................... N 7.63 5.96 – 21.9 – 34.5
RENN Fund (RCG) .......................... A NA 1.07 NA – 28.0
Royce GlobalValue Trust (RGT) ...... N 9.22 7.75 – 15.9 – 24.052Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc ReturnSwiss Helvetia(SWZ) ..................... N 8.31 6.83 – 17.8 – 6.8
Templeton Dragon (TDF) ................ N 19.50 16.70 – 14.4 – 9.4
Templeton Em Mkt (EMF) ............... N 12.62 10.74 – 14.9 – 24.4
United CorpsLtd (UNC)-cy ............... T 134.89 80.28 – 40.5 NA
VirtusTotalRetFd (ZF) ..................... N 7.39 6.61 – 10.6 – 21.6
Wells FargoGl DivOppty (EOD) ....... N NA 3.47 NA – 25.9U.S.MortgageBondFunds
BlckRk Income (BKT) ...................... N 6.32 5.91 – 6.5 7.1
First TrustMtge Inc (FMY)-a ............ N 14.24 12.54 – 12.0 5.6
Invesco HI 2023 Tgt Term(IHIT) ..... N 7.66 7.77 + 1.4 7.4
Invesco HI 2024 Tgt Term(IHTA) .... N 6.90 6.51 – 5.7 7.6
NuveenMortgage and Inc (JLS) ...... N 18.56 16.54 – 10.9 8.1
NuveenMulti-Market Inc (JMM)-c ... N 6.94 5.98 – 13.8 5.8
VerticalCapital Income (VCIF) ........ N NA 8.35 NA NS
Western Asset Mtg Oppty (DMO) .... N NA 10.86 NA 14.6
InvestmentGradeBondFunds
BlRck CoreBond (BHK) .................. N 14.71 13.37 – 9.1 5.9
BR CreditAlloc Inc (BTZ) ................. N 12.74 11.42 – 10.4 7.7
BR Enhcd Govt(EGF) ...................... N 13.44 12.65 – 5.9 3.8
Insight Select Income (INSI) ........... N 19.66 17.27 – 12.2 4.1
InvescoBond (VBF) ......................... N 19.13 17.27 – 9.7 4.5
J HanIncome (JHS) ........................ N 14.13 13.70 – 3.0 4.7
MFS Govt Mkts (MGF) .................... N 4.83 4.55 – 5.8 7.6
MFS Intmdt (MIN) .......................... N 3.92 3.56 – 9.2 9.5
Western Asset Inf-Lk Inc (WIA) ....... N NA 10.36 NA 3.9
Western Asset Inf-Lk O&I (WIW) .... N NA 9.80 NA 4.5
WA Investment Grade Inc (PAI) ....... N NA 12.30 NA 5.0
WesternAssetPremBd (WEA) ......... N NA 10.87 NA 7.0
Westn Asst IGDef OppTr (IGI) ........ N NA 18.01 NA 5.0
LoanParticipationFunds
Apollo Senior Floating (AFT) ........... N NA 10.84 NA 10.2
BR DebtStrategy(DSU) .................. N 9.77 8.29 – 15.1 9.9
BR F/RInc Str (FRA) ....................... N 11.81 9.90 – 16.2 8.8
BlackRock Floatng RtInc (BGT) ...... N 11.44 9.49 – 17.0 8.6
Blackstone / GSO Strat (BGB) .......... N 11.38 9.96 – 12.5 12.7
Blackstone/GSO LS CrInc (BGX) ..... N 11.60 9.87 – 14.9 13.8
Blackstone/GSO Sr Flt Rt(BSL) ....... N 12.56 10.64 – 15.3 11.0
BNY Mellon Alct GCI2024 (DCF) ..... N NA 6.09 NA 10.1
Eagle Point Credit (ECC) .................. N NA 5.05 NA 35.0
Eagle Point Income (EIC) ................ N NA 7.96 NA NS
Eaton Vance F-R 2022 TT (EFL) ....... N NA 6.96 NA 7.3
EtnVncFltRteInc (EFT) .................... N NA 9.74 NA 10.0
EtnVncFltRteIncPlus (EFF) .............. N NA 11.30 NA 8.6
EV SenFlRtTr (EFR) ......................... N NA 9.44 NA 10.2
EVSnrIncm (EVF) ........................... N NA 4.48 NA 9.3
FT/Sr Fltg RteInc 2 (FCT)-a .............. N 11.38 9.29 – 18.4 9.4
FT/Sr Fltg Rte2022 TgTr (FIV)-a ....... N 8.14 7.20 – 11.5 4.8
Highland Income (HFRO) ................ N 12.43 8.24 – 33.7 10.8
InvDYCrOpp (VTA) ......................... N 9.43 7.76 – 17.7 10.4
InvSnrIncTr (VVR) .......................... N 3.80 3.19 – 16.1 8.5
NuveenCredit Strat Inc (JQC) ......... N 6.38 5.47 – 14.3 21.3
NuvFloatRateIncFd (JFR) ................ N NA 7.17 NA 9.7
NuvFloatRteIncOppty (JRO) ........... N 8.26 6.93 – 16.1 9.9
NuveenSenior Income (NSL) .......... N 4.91 4.16 – 15.3 10.0
NuveenSht Dur CrdtOpp (JSD) ...... N 12.30 10.34 – 15.9 10.7
PionrFltRate Tr (PHD) ..................... N 9.26 7.52 – 18.8 8.9
THL CreditSenior Loan (TSLF) ........ N NA 11.07 NA 10.4
WA Corporate Loan (TLI) ................ N NA 6.92 NA 10.4
HighYieldBondFunds
Aberdeen Inc CreditStr (ACP) ......... N 7.87 6.40 – 18.7 19.5
AllianceBernGlHiIncm (AWF)-a ........ N 10.27 8.76 – 14.7 8.5
Angel Oak FS Inc Trm(FINS) ........... N 18.46 16.50 – 10.6 NS
Barings GlbSD HYBd (BGH) ........... N 11.71 10.08 – 13.9 15.7
BR Corporate HY(HYT) .................. N 9.37 8.31 – 11.3 10.2
BlackRock Ltd Dur Inc (BLW) .......... N 13.99 11.89 – 15.0 8.4
BNY Mellon HiYield Str (DHF) ......... N 2.49 2.08 – 16.5 11.4
Brookfield RealAsst Inc (RA) .......... N 16.81 13.35 – 20.6 16.2
CrSuisHighYld (DHY) ..................... A 1.94 1.64 – 15.5 11.9
CSAM Income Fd (CIK) ................... A 2.64 2.23 – 15.5 11.3
DoubleLineInc Sol (DSL) ................ N NA 11.51 NA 13.8
DoubleLineYld Opps(DLY) ............ N NA NA NA NS
EVHiInc2021 (EHT) ........................ N NA 8.61 NA 5.0
First TrHi IncLng/Shrt (FSD)-a ........ N 13.51 11.48 – 15.0 10.6
Franklin Univ(FT)-a ......................... N 6.82 5.67 – 16.9 6.2
InvHighIncTrII (VLT) ...................... N 11.32 9.64 – 14.8 10.8
IVY HIGH INCOME OPP(IVH) ......... N 11.17 9.42 – 15.7 12.0
MFS IntmdHgInc(CIF) .................... N 2.08 1.98 – 4.8 11.6
NeubHgYldStrt (NHS) ..................... N 9.34 8.30 – 11.1 12.2
New Amer HiInc (HYB) ................... N 7.70 6.59 – 14.4 8.7
NexPointStratOppty (NHF) ............. N 16.31 7.91 – 51.5 27.8
NuveenCrdt Opps 2022 TT (JCO) .... N 7.30 7.77 + 6.4 7.0
NuveenGlobal High Inc (JGH) ......... N 12.91 10.81 – 16.3 10.9
NuveenHi Inc 2020 Trgt (JHY) ........ N 9.16 8.75 – 4.5 3.6
NuveenHi Inc 2023 Trgt (JHAA) ...... N 8.34 8.48 + 1.7 7.5
NuveenHI Nov 2021 Tgt(JHB) ........ N 8.70 8.07 – 7.2 5.7Friday,April3,2020
GeneralEquityFunds
Adams Diversified Equity (ADX) ...... N 14.15 11.92 – 15.8 – 11.9
Boulder Growth& Income (BIF) ...... N 10.64 8.73 – 18.0 – 17.3
Central Secs (CET)-c ........................ A 30.71 24.60 – 19.9 – 12.6
CohenStrsCEOppFd (FOF) .............. N 9.24 8.80 – 4.8 – 23.7
Eagle Capital Growth (GRF)-c ........... A NA 5.83 NA – 18.7
EVTxAdvDivIncm (EVT) .................. N NA 15.46 NA – 26.6
Equus II (EQS) ................................ N NA 0.97 NA – 45.2
Foxby Corp. (FXBY) ........................ O 2.02 NA NA NA
GabelliDiv&IncTr (GDV) ................. N 16.00 13.80 – 13.8 – 31.7
Gabelli Equity Tr(GAB)-h ................. N 3.63 3.84 + 5.8 – 29.7
GeneralAmer (GAM) ....................... N 31.49 25.98 – 17.5 – 18.0
JHancockTaxAdvDiv (HTD) ............ N 17.45 15.44 – 11.5 – 34.3
Librty AllStrEq (USA) ..................... N 4.89 4.39 – 10.2 – 21.8
Librty AllStrGr (ASG)-j ..................... N 4.70 4.30 – 8.5 – 17.9
NuvTaxAdvTRStrat (JTA) ............... N 7.56 6.60 – 12.7 – 38.5
Royce Micro-Cap Tr(RMT) ............. N 6.16 5.07 – 17.7 – 33.1
Royce Value Trust(RVT) ................. N 10.48 9.08 – 13.4 – 30.4
Source Capital (SOR) ...................... N 34.47 28.88 – 16.2 – 18.8
Special Opportunities (SPE) ............ N NA 8.69 NA – 31.3
Sprott Focus Trust(FUND) .............. O 5.51 4.71 – 14.5 – 27.3
Tri-Continental (TY) ........................ N 23.33 20.01 – 14.2 – 19.8
SpecializedEquityFunds
Aberdeen GlbPrem Prop(AWP) ..... N 4.63 3.82 – 17.5 – 30.4
Adams Natural Resources (PEO) .... N 10.21 8.50 – 16.7 – 46.8
AllianzGI AI & Tech Opps(AIO) ....... N 16.95 15.08 – 11.0 NS
GI NFJDivInt&PremStr (NFJ) ......... N 10.78 9.07 – 15.9 – 19.7
ASA Gold &Prec Met Ltd (ASA) ....... N 12.35 10.76 – 12.9 5.7
BR Enh C&I(CII) ............................. N 13.73 12.04 – 12.3 – 20.2
BlackRock Energy& Res(BGR) ...... N 7.30 6.53 – 10.5 – 42.0
BlackRock Eq Enh Div(BDJ) ........... N 7.11 6.15 – 13.5 – 22.9
BlackRock Enh GlblDiv (BOE) ......... N 9.64 7.92 – 17.8 – 20.2
BlackRock Enh Intl Div(BGY) .......... N 5.28 4.41 – 16.5 – 15.1
BlackRock HlthSci Tr II (BMEZ) ...... N 18.30 17.28 – 5.6 NS
BlackRock HlthSciences (BME) ...... N 35.37 33.66 – 4.8 – 11.1
BlackRock Res& Comm (BCX) ....... N 6.11 4.99 – 18.3 – 34.5
BlackRock Sci&TechTr II (BSTZ) .... N 17.34 15.87 – 8.5 NS
BlackRock Sci&TechTrust (BST) .... N 27.85 27.50 – 1.3 – 8.1
BlackRock UtlInf & Pwr (BUI) ......... N 17.28 15.35 – 11.2 – 22.8
CBRE ClrnGlbRlEst(IGR) ................ A 5.80 4.71 – 18.8 – 31.5
CLEARBRIDGE ENGY MDS OPP (EMO) N NA 1.50 NA – 82.9
CLEARBRIDGE MLP&MDSTM TR (CTR) N NA 1.70 NA – 80.8
ClearBridge MLP & Midstm (CEM) .. N NA 2.20 NA – 80.8
Cntr Cst BrkfldMLP&EI (CEN) ......... N 1.08 0.93 – 13.9 – 86.0
ChnStrInfr (UTF) ............................. N 19.08 15.99 – 16.2 – 30.0
COHEN& STEERS MLP INC&E(MIE) N 1.75 1.66 – 5.1 – 80.7
Cohen&SteersQualInc (RQI) ........... N 9.28 7.99 – 13.9 – 33.0
CohenStrsREITPref (RNP) .............. N 17.26 14.86 – 13.9 – 23.2
Cohen&Steers TotRet (RFI) ............ N 10.10 9.31 – 7.8 – 24.7
Columbia Sel Prm Tech Gr (STK) ..... N 17.28 16.18 – 6.4 – 15.6
Cushing Energy Income (SRF) ........ N 3.86 2.78 – 27.9 – 60.8
CushingMLPTotRet (SRV)-d ............ N 4.49 3.97 – 11.6 – 57.8
Cushing Renaissance (SZC) ............ N 7.38 5.85 – 20.7 – 61.6
DNP Select Income (DNP)-a ............. N 7.53 9.01 + 19.6 – 14.9
Duff&Ph Uti&Infra Inc Fd (DPG) ...... N 9.67 8.38 – 13.3 – 38.1
Duff&Ph Sel MLP&MS Engy (DSE). N 0.37 0.32 – 14.6 – 92.8
EtnVncEqtyInc (EOI) ....................... N NA 11.25 NA – 16.6
EtnVncEqtyIncoII (EOS) ................. N NA 12.90 NA – 16.9
EVRskMnDvsEqInc (ETJ) ............... N NA 7.99 NA – 4.1
ETnVncTxMgdBuyWrtInc (ETB) ..... N NA 11.32 NA – 19.8
EtnVncTxMgdBuyWrtOpp (ETV) ..... N NA 11.19 NA – 17.9
EvTxMnDvsEqInc (ETY) ................. N NA 8.79 NA – 16.7
EtnVncTxMgdGlbB (ETW) .............. N NA 6.98 NA – 22.1
EVTxMnGblDvEqInc (EXG) ............. N NA 5.81 NA – 21.7
First TrustEnergy Inc G(FEN) ......... A 10.58 9.11 – 13.9 – 54.5
First TrEnhanced Eq (FFA) .............. N 12.36 11.58 – 6.3 – 16.9
First TrSpecialty Fn (FGB) ............... N 1.77 1.67 – 5.9 – 69.7
FirstTrEnergyInfra (FIF)-a ................ N 9.48 7.87 – 17.0 – 45.7
FirstTrMLPEner&Inc (FEI)-a ............ N 5.36 4.28 – 20.1 – 58.3
Gab GlUtil &Inc (GLU)-h ................. A 13.53 12.13 – 10.3 – 30.0
Gabelli Healthcare (GRX)-h .............. N 9.95 8.39 – 15.7 – 15.8
Gab Utility(GUT)-h .......................... N 3.58 5.30 + 48.0 – 13.6
GAMCOGlGold&NatRes (GGN) ....... A 3.20 2.93 – 8.4 – 22.4
GAMCO NR GLD & INCTR (GNT) .... N 4.44 3.80 – 14.4 – 26.3
J Han Finl Opptys(BTO) .................. N 16.33 16.16 – 1.0 – 47.3
Macquarie/FirstTr Gl(MFD) ............ N 8.24 6.94 – 15.8 – 30.9
Madison CovCall & Eq Str(MCN) .... N 5.64 4.80 – 14.9 – 19.5
Neuberger BrmnMLP & EI (NML) ... N 2.36 1.87 – 20.8 – 74.4
NubrgrRlEstSec (NRO) ................... A 3.04 2.67 – 12.2 – 41.3
Weekly Closed-End Funds
TRACKING CLOSED - END FUNDSThe Herzfeld Closed-End Average measures 15 equally-weighted closed-end funds based in the U.S. that invest principally in
American equities. The net assest value is a weighted average of the funds' NAVs. Source: Thomas J. Herzfeld Advisors Inc., Miami.
305-271-1900/www.herzfeld.com51000456004020034800294002400018600
3Q 19 4Q 19 1Q 20 2Q 20*Herzfeld
Closed-End
AverageDow Industrials5510050700463004190037500
3Q 4Q 1Q 2QNet Asset Value-4-7-10-13-16
3Q 19 4Q 19 1Q 20 2Q 20% Disc/Prem From Net Asset Value52Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc Return
52Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc Return12mos
Stock Market Prem Yield
FundName(Symbol) Exch NAV Price /Disc 3/31/20Not So Fast: Following last week’s double digit rally, the Herzfeld Average and the
Dow gave back some of their gains–dropping 6.6% and 5.1%, respectively, for the
week ended Thursday.
Data provided bya-NAV and market price are ex dividend. b-NAV is fully diluted. c-
NAV is as of Thursday’s close. d-NAV is as of Wednesday’s close.
e-NAVassumesrightsofferingisfullysubscribed.f-Rightsoffering
inprocess.g-Rightsofferingannounced.h-Lipperdatahasbeenad-
justed for rights offering. j-Rights offering has expired, but Lipper
data not yet adjusted. l-NAV as of previous day. o-Tender offer in
process. Source: Lipper
Market SentimentLAST –0.23
Citigroup Panic/Euphoria Model-0.9-0.6-0.300.30.6M A M J J A S O N D J F MAEuphoriaPanicThe panic/euphoria model is a gauge of investor sentiment. It identifies "Panic" and "Euphoria" levels which are statistically driven buy and
sell signals for the broader market. Historically, a reading below panic supports a better than 95% likelihood that stock prices will be
higher one year later, while euphoria levels generate a better than 80% probability of stock prices being lower one year later.Source: Citigroup Investment Research - US Equity Strategy1.5
1.4
1.3
1.2
1.1
1.0
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
Q2
17Q3 Q4 Q1
18Q2 Q3 Q4 Q1
19Q2 Q3 Q4 Q1
20Q2THREE YEAR TED SPREADFriday's Close 1.30TED Spread = 3-mth LIBOR – 3-mth T-bill rate