M32 BARRON’S July 12, 2021
NubrgrRlEstSec(NRO) ................... A 5.19 5.14 – 1.0 56.7
Nuv Dow30 DynOverwrite (DIAX) .. N NA 16.99 NA 33.6
NuvCorEqAlpha (JCE) ..................... N NA 16.74 NA 46.0
NuveenDiversDiv&Inc(JDD) .......... N NA 10.57 NA 50.6
NuveenNasdaq100 Dyn Ov(QQQX) N NA 29.27 NA 26.8
Nuv RealEst(JRS) .......................... A NA 11.36 NA 66.2
NuveenRl AsstInc &Gro (JRI) ........ N NA 16.23 NA 50.8
NuvS&P500DynOvFd (SPXX) ......... N NA 18.19 NA 47.7
NuvSP500BuyIncFd (BXMX) .......... N NA 14.47 NA 38.1
PIMGlbStkPI (PGP) ........................ N NA 11.02 NA 47.7
ReavesUtilityIncome(UTG) ............ A 34.32 34.92 + 1.7 23.2
RMR MortgageTrust (RMRM) ........ A NA 11.86 NA 3.6
Salient Midstream&MLP(SMM) ... N 7.96 5.96 – 25.1 60.9
TortoiseEnergyInd (NDP) .............. N 24.02 20.30 – 15.5 79.6
TortoiseEnrgy Infra Crp(TYG) ........ N 36.51 28.37 – 22.3 90.7
TortoiseMidstreamEnrgy (NTG) .... N 39.26 29.80 – 24.1 93.0
TortoisePipelne &Enrgy (TTP) ....... N 30.33 23.73 – 21.8 77.7
TortoisePwr& EngyInfr (TPZ) ....... N 16.12 13.90 – 13.8 65.0
VAGIAI &Tech Opptys (AIO) ........... N NA 27.82 NA 50.3
VDivInt&PremStr(NFJ) .................. N NA 15.24 NA 40.0
WellsFargoUt &HiInc(ERH) ......... A 12.80 14.39 + 12.4 18.3
Income&PreferredStockFunds
CalamosStratTot (CSQ) .................. N 18.01 18.22 + 1.2 51.6
CohenStrsLtdDurPref&Inc (LDP) ... N 26.31 27.39 + 4.1 30.4
CohenStrsSelPref&Income (PSF) ... N 27.20 31.36 + 15.3 35.4
CohenStrsTaxAvPreSecs&I(PTA) .. N 26.20 25.85 – 1.3 NS
Del Div &Inc (DDF) ......................... N 10.93 10.98 + 0.5 43.9
Dividendand Income (DNI) ............. N 19.50 14.88 – 23.7 54.4
FirstTrIntDurPref&Inc(FPF) ........... N 25.06 25.12 + 0.2 28.2
GabelliGo Anywhere Tr(GGO) ........ N 17.26 NA NA NA
JHanPrefInc(HPI) .......................... N 20.80 21.67 + 4.2 17.1
JHPrefIncII (HPF) ........................... N 20.52 21.62 + 5.4 30.2
HnckJPfdInco III(HPS) .................. N 18.30 19.28 + 5.4 30.8
J HanPrm (PDT) ............................. N 14.81 17.12 + 15.6 40.6
LMPCapInco (SCD) ........................ N 15.78 14.55 – 7.8 59.5
NuveenPref &I2022 Trm (JPT) ...... N NA 25.22 NA 20.6
NuveenPref &Inc Opp(JPC) .......... N NA 10.03 NA 30.8
NuveenFd (JPS) ............................. N NA 10.02 NA 26.2
NuveenPref &Inc Term(JPI) .......... N NA 25.54 NA 26.9
NuveenTxAdvDivGr(JTD) .............. N NA 16.07 NA 34.7
TCWStrat Income (TSI) .................. N 5.94 5.85 – 1.5 6.9
ConvertibleSec's.Funds
AdvntCnvrtbl&IncFd (AVK) ............. N 20.51 19.67 – 4.1 58.8
Bancroft FundLtd (BCV) ................. A 32.83 31.88 – 2.9 39.9
CalamosConvHi(CHY) ................... N 16.03 16.32 + 1.8 52.352Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc ReturnCalmosConvOp (CHI) ..................... N 15.20 15.43 + 1.5 52.5
Ellsworth G&IFund Ltd(ECF) .......... A 15.08 14.95 – 0.9 40.3
GabelliConv Sec(GCV) ................... N 6.83 6.50 – 4.8 32.4
HiIncBd(PCF) ................................. N 9.40 9.94 + 5.7 40.9
VAGIConv&IncII(NCZ) ................ NNA5.34 NA 46.7
VAGIConv& Inc(NCV) ................... N NA 6.11 NA 49.4
VAGICon& Inc2024 (CBH) ............ N NA 10.41 NA 24.4
VAGIDvs Inc& Conv(ACV) ............. N NA 35.40 NA 56.6
VAGIEqty &ConvInc (NIE) ............. N NA 30.58 NA 39.0
WorldEquityFunds
AbrdnAusEq(IAF) ........................... A 6.29 6.44 + 2.4 56.6
AberdeenEmgMkts Eq Inc(AEF) .... A 9.87 8.92 – 9.6 43.7
AberdeenGlbl DynDiv (AGD) .......... N 13.11 11.87 – 9.5 40.2
AberdeenJapanEquity (JEQ) .......... N 10.30 8.87 – 13.9 22.6
AberdeenTotDynDiv(AOD) ........... N11.16 10.16–9.0 40.6
BlackRockCapital Alloc (BCAT) ...... N 21.64 22.16 + 2.4 NS
Calamos GloDynInc(CHW) ............. N 9.98 10.88 + 9.0 57.8
CdnGenl Inv (CGI)-y ........................ T 57.93 38.38 – 33.7 47.5
Central andEastern Euro(CEE) ....... N 31.81 27.72 – 12.9 34.6
China(CHN) ................................... N 32.39 29.01 – 10.4 24.4
DelawareEnh GlDiv & In(DEX) ....... N 11.35 10.50 – 7.5 37.7
EVTxAdvGlbDivInc(ETG) ............... N 22.25 21.26 – 4.4 57.1
EtnVncTxAdvOpp(ETO) ................. N 30.63 29.54 – 3.6 50.2
Economic InvTr (N/A)-cy ................. T 183.96 119.45 – 35.1 24.5
EuropeanEquity FundInc (EEA) ...... N 13.10 11.57 – 11.7 34.8
FirstTrAbEmergOp(FEO) ................ N 15.51 15.10 – 2.6 36.6
FirstTrDyn EuroEq Inc(FDEU) ....... N 15.06 13.54 – 10.1 38.9
GabelliGl Sm&MidCpVal (GGZ) ..... N 17.90 15.96 – 10.8 83.4
GabelliMultimedia (GGT)-h ............. N 9.26 11.00 + 18.8 88.0
GDLFund (GDL) ............................. N 10.73 9.04 – 15.8 15.5
HerzfeldCaribb (CUBA) .................. O 6.98 6.19 – 11.3 77.9
Highland Global Alloc(HGLB) ......... N 11.79 9.26 – 21.5 66.8
IndiaFund (IFN) .............................. N 23.75 21.89 – 7.8 51.4
JHan Hdgd Ety& Inc(HEQ) ............ N 13.38 13.69 + 2.3 31.8
JHancockTaxAdv GlSh Yld(HTY) ... N 6.67 6.72 + 0.7 43.1
JapanSmaller Cap(JOF) ................. N 10.08 9.00 – 10.7 20.0
Korea (KF) ...................................... N NA 44.90 NA 69.8
LazardGlbTotRetInc(LGI)-a ............. N 21.34 20.42 – 4.3 52.2
MexicoEqandIncmFd(MXE) ........... N 14.30 12.15 – 15.0 NA
Mexico(MXF) ................................. N NA 15.34 NA 56.5
Miller/HowardHigh IncE (HIE) ....... N 11.04 10.34 – 6.3 79.7
MSChinaShrFd (CAF)-J ................... N 24.87 22.36 – 10.1 13.0
MSIndia (IIF) .................................. N 28.90 24.88 – 13.9 46.4
NewGermany(GF) ......................... N 23.09 20.59 – 10.8 56.6
NewIreland(IRL) ........................... N14.95 12.32–17.6 55.9
RENNFund (RCG) .......................... A NA 2.33 NA 83.452Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc ReturnRoyceGlobal Value Trust (RGT) ...... N 16.44 15.25 – 7.2 36.7
Swiss Helvetia(SWZ) ..................... N 11.18 9.81 – 12.2 30.7
Templeton Dragon (TDF) ................ N 25.14 23.11 – 8.1 28.6
Templeton EmMkt (EMF) ............... N 20.91 19.16 – 8.4 35.1
United CorpsLtd (UNC)-cy ............... T 178.35 105.96 – 40.6 12.4
WellsFargo Gl Div Oppty(EOD) ....... N 6.00 5.87 – 2.2 49.3U.S.MortgageBondFunds
BlckRk Income (BKT) ...................... N 6.04 6.30 + 4.3 6.5
FirstTrust MtgeInc (FMY) .............. N 14.14 13.97 – 1.2 5.2
InvescoHI 2023TgtTerm (IHIT) ..... N 9.47 9.80 + 3.5 6.1
InvescoHI 2024TgtTerm (IHTA) .... N 9.88 9.82 – 0.6 5.7
NuveenMortgage and Inc(JLS) ...... N NA 21.11 NA 4.1
NuveenMulti-MarketInc (JMM)-c ... N NA 7.47 NA 4.3
VerticalCapital Income (VCIF) ........ N NA 10.72 NA 6.6
WesternAsset MtgOppty (DMO) .... N 15.30 15.85 + 3.6 8.8
InvestmentGradeBondFunds
AngelOak Dynmc FS ITrm (DYFN) .. N 21.33 20.19 – 5.3 6.4
AngelOak FS Inc Trm(FINS) ........... N 19.12 18.22 – 4.7 7.0
BlRckCoreBond(BHK) .................. N16.34 16.64+1.8 5.2
BRCredit Alloc Inc(BTZ) ................. N 15.77 15.52 – 1.6 6.4
BREnhcd Govt (EGF) ...................... N 13.04 12.95 – 0.7 3.8
InsightSelect Income (INSI) ........... N 21.97 21.64 – 1.5 3.6
InvescoBond (VBF) ......................... N 21.17 20.57 – 2.8 3.3
J HanIncome (JHS) ........................ N 16.17 15.87 – 1.9 5.2
MFSGovt Mkts (MGF) .................... N 4.50 4.43 – 1.6 7.6
MFSIntmdt (MIN) .......................... N 3.78 3.74 – 1.1 8.9
Western Asset Inf-Lk Inc(WIA) ....... N 14.61 14.15 – 3.1 5.4
Western Asset Inf-Lk O&I(WIW) .... N 14.47 13.20 – 8.8 2.9
WAInvestment Grade Inc (PAI) ....... N 16.00 15.58 – 2.6 3.6
WesternAssetPremBd(WEA) ......... N 14.79 14.64 – 1.0 5.3
Westn AsstIG Def OppTr (IGI) ........ N 21.92 21.90 – 0.1 3.6
LoanParticipationFunds
ApolloSenior Floating (AFT) ........... N NA 15.64 NA 6.1
BRDebt Strategy (DSU) .................. N 11.74 11.49 – 2.1 6.8
BR F/R IncStr (FRA) ....................... N 14.02 13.34 – 4.9 6.5
BlackRock Floatng Rt Inc(BGT) ...... N 13.61 13.01 – 4.4 6.4
Blackstone Lng-Sh CrInc (BGX) ..... N 15.55 15.33 – 1.4 6.9
Blackstone Sr FlRt Tm(BSL) .......... N 16.53 16.23 – 1.8 5.9
Blackstone Strat Cr(BGB) ............... N 14.73 13.82 – 6.2 6.8
BNYMellon AlctGCI 2024(DCF)-a ... N 9.43 9.43 + 0.0 6.2
Eagle PointCredit (ECC)-a ................ N NA 13.11 NA 7.0
Eagle PointIncome (EIC)-a .............. N NA 16.23 NA 6.0
EatonVance F-R 2022 TT(EFL) ....... N 9.30 9.52 + 2.4 4.4
EtnVncFltRteInc (EFT) .................... N 14.57 14.32 – 1.7 5.2
EVSenFlRtTr (EFR) ......................... N 14.36 14.16 – 1.4 5.6
EVSnrIncm (EVF) ........................... N 6.87 6.72 – 2.2 5.9
First Eagle Senior Loan(N/A) .......... N 15.74 NA NA NA
FT/SrFltg Rte Inc2 (FCT) ................ N 12.57 12.57 + 0.0 9.7
FT/SrFltg Rte 2022TgTr (FIV) ......... N 9.68 9.53 – 1.6 1.8
Highland Income(HFRO) ................ N 13.74 10.83 – 21.2 8.4
InvDYCrOpp(VTA) ......................... N 12.28 11.93 – 2.9 7.5
InvSnrIncTr(VVR) .......................... N 4.65 4.41 – 5.2 5.5
Nuveen Credit StratInc (JQC) ......... N NA 6.66 NA 13.0
NuvFloatRateIncFd (JFR) ................ N NA 10.01 NA 6.1
NuvFloatRteIncOppty(JRO) ........... N NA 9.78 NA 6.1
Nuveen SeniorIncome(NSL) .......... N NA 5.90 NA 6.4
Nuveen Sht Dur CrdtOpp (JSD) ...... N NA 14.90 NA 6.1
PionrFltRateTr (PHD) ..................... N 11.78 12.02 + 2.0 6.2
HighYieldBondFunds
Aberdeen IncCredit Str(ACP) ......... N 11.12 11.04 – 0.7 11.1
AllianceBernGlHiIncm(AWF) .......... N 13.05 12.40 – 5.0 6.2
Barings GlbSD HYBd(BGH) ........... N 17.95 17.24 – 4.0 7.4
BR Corporate HY(HYT) .................. N 12.32 12.45 + 1.1 7.5
BlackRockLtd DurInc (BLW) .......... N 17.13 17.22 + 0.5 6.9
BNY MellonHiYield Str(DHF)-a ....... N 3.33 3.43 + 3.0 7.0
Brookfield Real AsstInc (RA) .......... N 20.76 22.39 + 7.9 10.9
CrSuisHighYld(DHY) ..................... A 2.60 2.54 – 2.3 7.7
CSAM IncomeFd (CIK) ................... A 3.52 3.49 – 0.9 7.6
DELAWARE IVY HIGH INCOPP (IVH) N 15.06 13.91 – 7.6 7.3
DoubleLineInc Sol(DSL) ................ N 18.53 18.30 – 1.2 8.4
DoubleLineYld Opps(DLY) ............ N 20.54 19.99 – 2.7 7.0
FirstTr HiInc Lng/Shrt(FSD) .......... N 16.59 15.76 – 5.0 8.3
FirstTrust HYOpp:2027(FTHY) ...... N 21.08 20.02 – 5.0 5.9
FranklinUniv (FT) ........................... N 8.84 8.31 – 6.0 4.8
InvHighIncTrII (VLT) ...................... N 15.15 15.04 – 0.7 7.7
KKRIncome Opportunities(KIO)-a .. N NA 16.51 NA 8.0
MFSIntmdHgInc (CIF) .................... N 2.46 3.27 + 32.9 6.9
NeubHgYldStrt(NHS) ..................... N 12.80 13.38 + 4.5 8.1
New AmerHi Inc(HYB) ................... N 10.05 9.33 – 7.2 6.9
NexPointStratOppty (NHF) ............. N 20.38 13.70 – 32.8 5.4
NuveenCI2023 Target (JHAA) ........ N NA 9.94 NA 4.8
NuveenCINov 2021 Tgt(JHB) ........ N NA 9.42 NA 2.9
NuveenCrdtOpps 2022 TT(JCO) .... N NA 8.32 NA 6.6
NuveenGlobal High Inc(JGH) ......... N NA 16.13 NA 7.0Friday,July9,2021
GeneralEquityFunds
Adams DiversifiedEquity (ADX) ...... N 23.34 19.98 – 14.4 38.2
Boulder Growth& Income(BIF) ...... N 15.96 13.66 – 14.4 46.9
Central Secs (CET)-c ........................ A 50.43 42.26 – 16.2 52.0
CohenStrsCEOppFd (FOF) .............. N 14.24 14.67 + 3.0 47.5
Eagle Capital Growth(GRF)-c ........... A NA NA NA NA
EVTxAdvDivIncm (EVT) .................. N 28.08 27.94 – 0.5 56.7
Equus II (EQS) ................................ N NA 1.92 NA 68.4
FoxbyCorp. (FXBY) ........................ O 22.76 NA NA NA
GabelliDiv&IncTr (GDV) ................. N 29.06 26.55 – 8.6 57.8
Gabelli Equity Tr (GAB)-h ................. N 6.72 6.90 + 2.7 51.5
GeneralAmer(GAM) ....................... N 51.43 43.43 – 15.6 43.7
JHancockTaxAdvDiv(HTD) ............ N 24.73 25.08 + 1.4 42.5
Liberty All-Star Equity(USA) ........... N 8.22 8.93 + 8.6 70.0
LibertyAll-Star Growth(ASG)-f ........ N 8.64 8.61 – 0.3 37.9
NuvTaxAdvTRStrat(JTA) ............... N NA 11.49 NA 52.2
RoyceMicro-Cap Tr (RMT) ............. N 13.65 12.17 – 10.8 79.0
RoyceValue Trust (RVT) ................. N 20.76 18.69 – 10.0 60.6
Source Capital (SOR) ...................... N 48.58 45.37 – 6.6 36.4
SpecialOpportunities(SPE) ............ N NA 15.15 NA 43.7
SprottFocusTrust (FUND) .............. O 9.33 8.45 – 9.4 53.1
Tri-Continental(TY) ........................ N 38.08 34.18 – 10.2 43.4
SpecializedEquityFunds
AberdeenGlb PremProp (AWP) ..... N 6.95 6.57 – 5.5 55.1
Aberdeen StdGl InfraI (ASGI) ......... N 23.28 21.25 – 8.7 NS
Adams NaturalResources(PEO) .... N 18.26 16.00 – 12.4 56.0
ASA Gold& PrecMetLtd (ASA) ....... N 25.36 20.91 – 17.5 9.9
BREnh C&I(CII) ............................. N 21.37 20.67 – 3.3 48.6
BlackRockEnergy& Res (BGR) ...... N 9.91 9.75 – 1.6 51.3
BlackRockEq EnhDiv (BDJ) ........... N 10.28 9.97 – 3.0 45.8
BlackRockEnh Glbl Div(BOE) ......... N 13.22 12.38 – 6.4 39.3
BlackRockEnh IntlDiv (BGY) .......... N 6.77 6.49 – 4.1 31.3
BlackRockHlth Sci TrII(BMEZ) ...... N 30.25 29.31 – 3.1 40.7
BlackRockHlth Sciences(BME) ...... N 48.12 49.07 + 2.0 19.0
BlackRockInnov and Grow(BIGZ) .. N 19.36 20.28 + 4.8 NS
BlackRockRes & Comm(BCX) ....... N 9.67 9.40 – 2.8 63.3
BlackRockSci&Tech Tr II(BSTZ) .... N 42.37 40.98 – 3.3 75.3
BlackRockSci&Tech Trust (BST) .... N 55.72 53.71 – 3.6 39.9
BlackRockUtl Inf& Pwr(BUI) ......... N 25.01 25.71 + 2.8 32.9
CBREClrnGlbRlEst (IGR) ................ A 9.75 9.00 – 7.7 67.2
CLEARBRIDGE ENGYMDS OPP(EMO) N 28.82 23.25 – 19.3 129.0
CLEARBRIDGE MLP&MDSTM TR(CTR) N 30.92 25.47 – 17.6 133.9
ClearBridgeMLP& Midstm(CEM) .. N 34.34 29.32 – 14.6 128.3
CntrCst BrkfldMLP&EI (CEN) ......... N 17.13 12.96 – 24.3 68.2
ChnStrInfr(UTF) ............................. N 27.06 28.38 + 4.9 37.6
COHEN& STEERSMLPINC&E(MIE) N 4.16 4.07 – 2.2 123.3
Cohen&SteersQualInc(RQI) ........... N 16.54 16.20 – 2.1 62.4
Cohen&Steers TotRet(RFI) ............ N 15.45 16.67 + 7.9 46.9
CohenStrsREITPrefInc (RNP) ......... N 27.50 27.32 – 0.7 52.6
Columbia SelPrm TechGr (STK) ..... N 33.41 33.96 + 1.6 63.1
CushingMLPTotRet(SRV)-d ............ N 38.97 29.33 – 24.7 84.7
Cushing NextGenInfInc (SZC) ........ N 57.25 49.09 – 14.3 77.2
DNPSelectIncome(DNP) .............. N9.71 10.57+8.9 2.8
Duff&Ph Uti&Infra IncFd (DPG) ...... N 13.99 14.67 + 4.9 47.7
EtnVncEqtyInc (EOI) ....................... N 18.82 18.56 – 1.4 37.6
EtnVncEqtyIncoII(EOS) ................. N 23.67 23.44 – 1.0 38.3
EVRskMnDvsEqInc (ETJ) ............... N 10.48 11.56 + 10.3 29.7
ETnVncTxMgdBuyWrtInc (ETB) ..... N 15.94 16.60 + 4.1 27.8
EtnVncTxMgdBuyWrtOpp(ETV) ..... N 15.76 16.34 + 3.7 26.3
EvTxMnDvsEqInc(ETY) ................. N 13.98 14.13 + 1.1 40.8
EtnVncTxMgdGlbB(ETW) .............. N 10.96 11.00 + 0.4 37.1
EVTxMnGblDvEqInc(EXG) ............. N 10.32 10.18 – 1.4 49.1
Ecofin S&S ImpactTerm (TEAF) ..... N 17.05 14.96 – 12.3 48.7
FirstTrust EnergyIncG (FEN) ......... A 14.91 14.85 – 0.4 64.5
FirstTrEnhancedEq(FFA) .............. N20.63 20.62+0.0 48.2
FirstTr SpecialtyFn (FGB) ............... N 4.35 4.12 – 5.3 50.2
FirstTrEnergyInfra (FIF) .................. N 15.22 13.48 – 11.4 49.4
FirstTrMLPEner&Inc(FEI) .............. N 8.53 7.89 – 7.5 68.9
Gab GlUtil &Inc (GLU)-h ................. A 21.22 21.52 + 1.4 45.4
GabelliHealthcare (GRX)-h .............. N 15.30 13.59 – 11.2 42.3
Gab Utility (GUT)-h .......................... N 4.37 8.00 + 83.1 22.6
GAMCOGlGold&NatRes (GGN) ....... A 4.01 4.04 + 0.7 26.7
GAMCONR GLD& INCTR(GNT) .... N 6.05 5.58 – 7.8 21.3
J HanFinl Opptys (BTO) .................. N 36.12 39.13 + 8.3 95.7
Macquarie/FirstTr Gl (MFD) ............ N 10.60 9.74 – 8.1 36.0
Madison CovCall &EqStr (MCN) .... N 7.74 8.19 + 5.8 59.7
NeubergerBrmnMLP&EI(NML) ... N6.33 5.00–21.1 93.4
NeubergerNxt Gen Conn(NBXG) .... N 20.81 20.05 – 3.6 NS
Weekly Closed-End Funds
TRACKING CLOSED - END FUNDS
The 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.com67000
60000
53000
46000
39000
32000
25000
4Q 20 1Q 21 2Q 21 3Q 21*Herzfeld
Closed-End
Average
Dow Industrials
71000
65500
60000
54500
49000
4Q 1Q 2Q 3QNet Asset Value
-2
-4
-6
-8
-10
4Q 20 1Q 21 2Q 21 3Q 21% Disc/Prem From Net Asset Value
52Week
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 6/30/21The Yield Is Falling! : The Herzfeld Average and the Dow were spooked by the bond
market rally, dropping 0.9% and 0.6%, 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 +1.06
Citigroup Panic/Euphoria Model
-2.1
-1.4
-0.7
0
0.7
1.4
J J A S O N D J F M A M JJEuphoria
Panic
The 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 Strategy
2.1
1.5
1.41.3
1.2
1.11.0
0.9
0.80.7
0.6
0.50.4
0.3
0.20.1
Q3
18Q4 Q1
19Q2 Q3 Q4 Q1
20Q2 Q3 Q4 Q1
21Q2 Q3THREE YEAR TED SPREAD
Friday's Close 0.08TED Spread = 3-mth LIBOR – 3-mth T-bill rate