M32 BARRON’S July22,2019
Neuberger Brmn MLP & EI (NML) ... N 8.64 7.61 – 11.9 – 7.7
NubrgrRlEstSec (NRO) ................... A 5.47 5.10 – 6.8 9.8
Nuv Dow 30 Dyn Overwrite (DIAX) .. N 18.26 17.76 – 2.7 1.8
Nuv AC Engy MLP Opps (JMLP) ...... N 6.91 6.25 – 9.6 – 12.0
NuvCorEqAlpha (JCE) ..................... N 14.77 14.28 – 3.3 2.1
NuveenDiversDiv&Inc (JDD) .......... N 11.57 10.93 – 5.5 5.7
Nuveen Engy MLP Tot Rtn (JMF) ..... N 9.75 9.24 – 5.2 – 3.6
Nuveen Nasdaq 100 Dyn Ov (QQQX) N 22.78 22.73 – 0.2 – 4.1
Nuv Real Est (JRS) .......................... A 11.09 10.66 – 3.9 16.4
Nuveen Rl Asst Inc & Gro (JRI) ........ N 19.01 16.84 – 11.4 13.1
NuvS&P500DynOvFd (SPXX) ......... N NA 16.61 NA 7.0
NuvSP500BuyIncFd (BXMX) .......... N 13.38 13.22 – 1.2 – 1.3
PIMGlbStkPI (PGP) ........................ N NA 12.50 NA – 6.5
ReavesUtilityIncome (UTG) ............ A 35.59 36.56 + 2.7 31.1
RMRRealEstInc (RIF) ..................... A 23.10 18.49 – 20.0 9.0
Salient Midstream & MLP (SMM) ... N 10.26 8.75 – 14.7 – 7.4
Tortoise Energy Ind (NDP) .............. N 5.53 6.75 + 22.1 – 35.8
Tortoise Enrgy Infra Crp (TYG) ........ N 23.61 23.09 – 2.2 – 5.7
Tortoise Ess Asst Inc Tm (TEAF) ..... N 19.21 18.15 – 5.5 NS
Tortoise Midstream Enrgy (NTG) .... N 14.51 13.62 – 6.1 – 5.5
Tortoise Pipelne & Enrgy (TTP) ....... N 16.21 14.67 – 9.5 – 6.2
Tortoise Pwr & Engy Infr (TPZ) ....... N 20.41 18.92 – 7.3 7.8
Wells Fargo Ut & Hi Inc (ERH) ......... A NA 13.23 NA 13.9
Income&PreferredStockFunds
CalamosStratTot (CSQ) .................. N 13.00 12.92 – 0.6 7.0
CohenStrsLtdDurPref&Inc (LDP)-a. N 25.43 24.92 – 2.0 6.3
CohenStrsSelPref&Income (PSF)-a. N 26.31 28.30 + 7.6 13.0
Del Div & Inc (DDF)-a ....................... N NA 14.91 NA 32.8
Dividend and Income (DNI) ............. N 15.22 11.62 – 23.7 1.1
Eagle Gr and Inc Opps (EGIF)-a ........ N 18.14 15.58 – 14.1 7.2
FirstTrIntDurPref&Inc (FPF) ........... N 23.77 23.12 – 2.7 16.1
Gabelli Go Anywhere Tr (GGO) ........ N 16.63 15.68 – 5.7 – 17.0
JHanPrefInc (HPI) .......................... N 21.34 23.77 + 11.4 18.5
JHPrefIncII (HPF) ........................... N 21.02 23.28 + 10.8 20.1
HnckJPfdInco III (HPS) .................. N 18.69 19.38 + 3.7 14.0
J Han Prm (PDT) ............................. N 15.39 17.09 + 11.0 15.9
LMP CapInco (SCD) ........................ N NA 13.74 NA 13.5
Nuveen Pref & I 2022 Trm (JPT) ...... N 24.20 24.30 + 0.4 9.7
Nuveen Pref & Inc Opp (JPC) .......... N 10.12 9.90 – 2.2 14.2
Nuveen Fd (JPS) ............................. N 9.81 9.64 – 1.7 16.7
Nuveen Pref & Inc Term (JPI) .......... N 24.59 23.74 – 3.5 8.4
Nuveen TxAdvDivGr (JTD) .............. N 17.30 16.75 – 3.2 6.8
TCW Strat Income (TSI) .................. N NA 5.64 NA 10.0
Virtus Glb Div & Inc (ZTR) ............... N 10.38 11.77 + 13.4 15.5
Vivaldi Opportunities (VAM) ........... N NA 14.00 NA NA52Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc ReturnConvertibleSec's.Funds
AllianzGI Con & Inc 2024 (CBH) ...... N 9.78 9.30 – 4.9 6.9
GI Conv & Inc (NCV) ....................... N 5.58 5.88 + 5.4 – 5.1
AGI Conv & Inc II (NCZ) ................... N 5.00 5.12 + 2.4 – 4.5
AGI Dvs Inc & Conv (ACV) ............... N 23.78 23.67 – 0.5 8.2
AGI Eqty & Conv Inc (NIE) ............... N 23.88 22.21 – 7.0 2.8
Bancroft Fund Ltd (BCV) ................. A 25.95 23.16 – 10.8 16.7
CalamosConvHi (CHY) ................... N 11.47 11.37 – 0.9 – 3.3
CalmosConvOp (CHI) ..................... N 10.90 10.71 – 1.7 – 2.6
Ellsworth G&I Fund Ltd (ECF) .......... A 11.67 10.50 – 10.0 15.0
Gabelli Conv Sec (GCV) ................... N 5.47 5.26 – 3.8 – 6.4
HiIncBd (PCF) ................................. N NA 8.27 NA – 7.9
WorldEquityFunds
AbrdnAusEq (IAF) ........................... A NA 5.53 NA 0.5
Aberdeen Emg Mkts Eq Inc (AEF) .... A NA 7.44 NA 10.7
Aberdeen Glbl Dyn Div (AGD) .......... N NA 9.66 NA 1.1
Aberdeen Japan Equity (JEQ) .......... N NA 7.12 NA – 7.5
Aberdeen Tot Dyn Div (AOD) ........... N NA 8.36 NA 2.5
Calamos GloDynInc (CHW) ............. N 8.16 8.15 – 0.1 0.0
Cdn Genl Inv (CGI)-y ........................ T 36.89 25.49 – 30.9 4.0
Central and Eastern Euro (CEE) ....... N 31.04 26.91 – 13.3 20.2
China (CHN) ................................... N NA 20.52 NA 3.5
Delaware Enh Gl Div & In (DEX)-a ..... N NA 9.83 NA – 3.0
EV TxAdvGlbDivInc (ETG) ............... N 17.41 16.33 – 6.2 0.1
EtnVncTxAdvOpp (ETO) ................. N 23.80 25.20 + 5.9 8.9
Economic Inv Tr (N/A)-cy ................. T 151.22 NA NA NA
European Equity Fund Inc (EEA) ...... N 10.16 8.73 – 14.1 – 5.3
FirstTrAbEmergOp (FEO) ................ N 15.87 13.77 – 13.2 9.7
FirstTr Dyn Euro Eq Inc (FDEU) ....... N 15.18 14.10 – 7.1 – 4.1
Gabelli Gl Sm&Mid Cp Val (GGZ) ..... N 13.40 11.29 – 15.7 3.8
Gabelli Multimedia (GGT)-h ............. N 8.11 8.25 + 1.7 2.6
GDL Fund (GDL) ............................. N 11.11 9.35 – 15.9 5.5
Herzfeld Caribb (CUBA) .................. O 7.43 6.15 – 17.2 – 3.3
Highland Global Alloc (HGLB) ......... N 14.03 11.11 – 20.8 NS
India Fund (IFN) .............................. N NA 20.96 NA – 4.8
J Han Hdgd Ety & Inc (HEQ) ............ N 14.86 14.05 – 5.5 – 5.2
JHancockTaxAdv Gl Sh Yld (HTY) ... N 7.62 6.97 – 8.5 – 11.1
Japan Smaller Cap (JOF) ................. N NA 8.74 NA – 7.3
Korea (KF) ...................................... N 31.71 28.15 – 11.2 – 8.6
LazardGlbTotRetInc (LGI) ............... N 17.95 16.24 – 9.5 5.6
LazardWorldDiv&IncFd (LOR) ........ N 10.87 9.98 – 8.2 4.2
MexicoEqandIncmFd (MXE) ........... N 11.27 10.73 – 4.8 – 2.9
Mexico (MXF) ................................. N NA 13.40 NA – 12.9
Miller/Howard High Inc E (HIE) ....... N 10.82 11.42 + 5.6 4.4
MS ChinaShrFd (CAF)-J ................... N 24.20 21.74 – 10.2 5.852Week
Stock Market Prem Market
FundName(Symbol) Exch NAV Price /Disc ReturnMS India (IIF) .................................. N 22.63 19.75 – 12.7 – 10.4
New Germany (GF) ......................... N 16.00 14.11 – 11.8 – 2.3
New Ireland (IRL) ........................... N 10.66 8.83 – 17.2 – 18.0
RENN Fund (RCG) .......................... A NA 1.57 NA – 6.0
Royce Global Value Trust (RGT) ...... N 12.30 10.55 – 14.2 – 0.7
Swiss Helvetia (SWZ) ..................... N 9.22 7.83 – 15.1 – 3.5
Templeton Dragon (TDF) ................ N 22.14 19.67 – 11.2 4.0
Templeton Em Mkt (EMF) ............... N 17.13 15.44 – 9.9 11.0
United Corps Ltd (UNC)-cy ............... T 146.26 96.02 – 34.3 – 1.7
VirtusTotalRetFd (ZF) ..................... N 11.01 10.84 – 1.5 16.9
Wells Fargo Gl Div Oppty (EOD) ....... N NA 5.45 NA 9.96U.S.MortgageBondFunds
BlckRk Income (BKT) ...................... N 6.39 6.05 – 5.3 6.6
First Trust Mtge Inc (FMY) .............. N 15.00 13.97 – 6.9 5.1
Invesco HI 2023 Tgt Term (IHIT)-a ... N 10.54 10.43 – 1.0 5.7
Invesco HI 2024 Tgt Term (IHTA)-a .. N 10.48 10.22 – 2.5 5.5
Nuveen Mtge Oppty Term (JLS) ...... N 23.26 23.10 – 0.7 7.3
Nuveen Mtge Oppty Term 2 (JMT) ... N 22.45 22.41 – 0.2 6.7
Nuveen Multi-Market Inc (JMM)-c ... N 8.00 7.36 – 8.0 4.9
Vertical Capital Income (VCIF) ........ N NA 9.85 NA 4.0
Westn Asst Mtge Def Opp (DMO)-a .. N NA 21.76 NA 12.9
InvestmentGradeBondFunds
BlRck Core Bond (BHK) .................. N 14.96 14.07 – 5.9 5.5
BR Credit Alloc Inc (BTZ) ................. N 14.56 13.14 – 9.8 6.2
BR Enhcd Govt (EGF) ...................... N 13.59 13.07 – 3.8 3.7
Insight Select Income (INSI)-a ......... N 21.00 19.84 – 5.5 3.9
InvescoBond (VBF)-a ....................... N 20.11 18.89 – 6.1 4.4
J Han Income (JHS) ........................ N 15.32 14.53 – 5.2 4.7
MFS Govt Mkts (MGF)-a ................... N 4.77 4.56 – 4.4 7.4
MFS Intmdt (MIN)-a ........................ N 4.05 3.85 – 4.9 8.9
Western Asset Inf-Lk Inc (WIA)-a ..... N NA 11.62 NA 3.5
Western Asset Inf-Lk O&I (WIW)-a .. N NA 11.30 NA 3.8
WA Investment Grade Inc (PAI)-a ..... N NA 15.46 NA 4.6
WesternAssetPremBd (WEA)-a ....... N NA 14.22 NA 5.7
Westn Asst IG Def Opp Tr (IGI)-a ...... N NA 21.68 NA 4.2
LoanParticipationFunds
1WS Credit Income (N/A) ................ NA NA NA NS
Apollo Senior Floating (AFT)-a ......... N NA 14.97 NA 8.6
Axonic Alternative Inc (AAIDX) ........ N 25.52 NA NA NS
BR Debt Strategy (DSU) .................. N 12.17 10.81 – 11.2 7.6
BR F/R Inc Str (FRA) ....................... N 14.53 12.77 – 12.1 6.6
BlackRock Floatng Rt Inc (BGT) ...... N 14.10 12.44 – 11.8 6.3
Blackstone / GSO Strat (BGB) .......... N NA 15.02 NA 10.4
Blackstone/GSO LS Cr Inc (BGX) ..... N NA 15.95 NA 10.7
Blackstone/GSO Sr Flt Rt (BSL) ....... N 16.82 17.14 + 1.9 8.7
BNY Mellon Alct GCI 2024 (DCF) ..... N 9.31 9.37 + 0.6 6.1
Eagle Point Credit (ECC) .................. N NA 17.85 NA 13.4
Eaton Vance F-R 2022 TT (EFL) ....... N 9.51 9.36 – 1.6 5.7
EtnVncFltRteInc (EFT) .................... N 15.23 13.39 – 12.1 5.7
EtnVncFltRteIncPlus (EFF) .............. N 17.27 15.02 – 13.0 6.3
EV SenFlRtTr (EFR) ......................... N 14.89 13.07 – 12.2 6.0
EVSnrIncm (EVF) ........................... N 7.05 6.24 – 11.5 6.2
FT/Sr Fltg Rte Inc 2 (FCT) ................ N 13.71 12.16 – 11.3 6.0
FT/Sr Fltg Rte 2022 TgTr (FIV) ......... N 9.51 9.05 – 4.8 5.2
Highland Income (HFRO) ................ N 14.41 13.59 – 5.7 6.6
InvDYCrOpp (VTA)-a ....................... N 12.56 11.02 – 12.3 8.1
InvSnrIncTr (VVR)-a ........................ N 4.75 4.21 – 11.4 6.2
Nuveen Credit Strat Inc (JQC) ......... N 8.47 7.68 – 9.3 10.6
NuvFloatRateIncFd (JFR) ................ N 11.02 9.74 – 11.6 7.3
NuvFloatRteIncOppty (JRO) ........... N 10.93 9.66 – 11.6 7.5
Nuveen Senior Income (NSL) .......... N 6.58 5.82 – 11.6 7.2
Nuveen Sht Dur Crdt Opp (JSD) ...... N 16.87 15.26 – 9.5 7.8
PionrFltRate Tr (PHD)-a ................... N 12.03 10.49 – 12.8 6.7
THL Credit Senior Loan (TSLF)-a ...... N 17.19 15.09 – 12.2 8.9
WA Corporate Loan (TLI)-a .............. N NA 9.56 NA 6.7
HighYieldBondFunds
Aberdeen Inc Credit Str (ACP) ......... N NA 12.55 NA 11.6
AllianceBernGlHiIncm (AWF) .......... N 13.15 11.93 – 9.3 7.0
Angel Oak FS Inc Trm (FINS) ........... N NA 19.98 NA NS
Barings Glb SD HY Bd (BGH) ........... N 18.60 18.01 – 3.2 10.0
BR Corporate HY (HYT) .................. N 11.72 10.69 – 8.8 8.0
BlackRock Ltd Dur Inc (BLW) .......... N 16.90 15.16 – 10.3 6.3
BNY Mellon Hi Yield Str (DHF) ......... N 3.33 3.07 – 7.8 9.0
Brookfield Real Asst Inc (RA)-a ........ N 23.54 21.79 – 7.4 11.0
CrSuisHighYld (DHY)-a ................... A 2.57 2.50 – 2.7 9.4
CSAM Income Fd (CIK)-a ................. A 3.44 3.14 – 8.7 8.6
DoubleLine Inc Sol (DSL)-a .............. N NA 20.23 NA 9.0
EVHiInc2021 (EHT) ........................ N 10.01 9.86 – 1.5 5.2
First Tr Hi Inc Lng/Shrt (FSD) .......... N 16.93 14.92 – 11.9 8.3
Franklin Univ (FT)-a ......................... N 8.47 7.36 – 13.1 5.6
InvHighIncTrII (VLT)-a .................... N 15.50 14.45 – 6.8 7.8
IVY HIGH INCOME OPP (IVH)-a ....... N 15.19 13.46 – 11.4 8.8Friday,July19,2019
GeneralEquityFunds
Adams Diversified Equity (ADX) ...... N 18.03 15.86 – 12.0 14.2
Boulder Growth & Income (BIF) ...... N 13.46 11.21 – 16.7 8.3
Central Secs (CET)-c ........................ A 36.97 30.70 – 17.0 13.9
CohenStrsCEOppFd (FOF)-a ............ N 13.37 12.86 – 3.8 8.2
Eagle Capital Growth (GRF)-c ........... A NA 8.05 NA 8.3
EVTxAdvDivIncm (EVT) .................. N 24.01 24.49 + 2.0 12.6
Equus II (EQS) ................................ N NA 1.74 NA – 22.2
Foxby Corp (FXBY) ......................... O 3.10 NA NA NA
GabelliDiv&IncTr (GDV)-a ................ N 23.34 21.82 – 6.5 – 0.5
Gabelli Equity Tr (GAB)-h ................. N 5.91 6.16 + 4.2 7.1
GeneralAmer (GAM) ....................... N 42.77 36.20 – 15.4 9.4
JHancockTaxAdvDiv (HTD) ............ N 26.09 25.59 – 1.9 20.7
Librty AllStr Eq (USA) ..................... N 6.73 6.53 – 3.0 8.2
Librty AllStr Gr (ASG)-h ................... N 6.14 6.06 – 1.3 0.2
NuvTaxAdvTRStrat (JTA) ............... N 12.19 11.72 – 3.9 – 4.5
Royce Micro-Cap Tr (RMT) ............. N 9.17 8.11 – 11.6 – 16.0
Royce Value Trust (RVT) ................. N 15.62 13.84 – 11.4 – 4.7
Source Capital (SOR) ...................... N 42.64 36.65 – 14.1 – 6.8
Special Opportunities (SPE) ............ N NA 13.94 NA 8.3
Sprott Focus Trust (FUND) .............. O 7.68 6.76 – 12.0 – 5.0
Tri-Continental (TY) ........................ N 30.25 27.29 – 9.8 8.6
SpecializedEquityFunds
Aberdeen Glb Prem Prop (AWP) ..... N NA 6.26 NA 10.1
Adams Natural Resources (PEO) .... N 19.62 16.37 – 16.6 – 13.3
GI NFJ DivInt&PremStr (NFJ) ......... N 13.99 12.53 – 10.4 5.6
ASA Gold & Prec Met Ltd (ASA) ....... N NA 12.36 NA 23.6
BR Enh C&I (CII) ............................. N 17.01 16.15 – 5.1 3.1
BlackRock Energy & Res (BGR) ...... N 12.73 11.44 – 10.1 – 19.4
BlackRock Eq Enh Div (BDJ) ........... N 9.64 8.99 – 6.7 3.8
BlackRock Enh Glbl Div (BOE) ......... N 11.96 10.65 – 11.0 2.9
BlackRock Enh Intl Div (BGY) .......... N 6.25 5.54 – 11.4 3.2
BlackRock Hlth Sciences (BME) ...... N 38.31 38.80 + 1.3 4.5
BlackRock Res & Comm (BCX) ....... N 9.18 8.04 – 12.4 – 3.0
BlackRock Sci&Tech Tr II (BSTZ) .... N 20.39 22.32 + 9.4 NS
BlackRock Sci&Tech Trust (BST) .... N 33.40 34.20 + 2.4 4.0
BlackRock Utl Inf & Pwr (BUI) ......... N 20.90 22.66 + 8.4 19.9
Brookfield Gl Lsd Infr (INF)-a ............ N 15.20 13.32 – 12.4 16.3
CBRE ClrnGlbRlEst (IGR)-a .............. A 8.72 7.57 – 13.2 9.9
CLEARBRIDGE ENGY MDS OPP (EMO) N NA 9.51 NA – 6.2
CLEARBRIDGE MLP&MDSTM TR (CTR) N NA 9.55 NA – 8.0
ClearBridge MLP & Midstm (CEM) .. N NA 12.36 NA – 4.3
Cntr Cst Brkfld MLP&EI (CEN)-a ....... N 7.96 8.05 + 1.1 1.2
ChnStrGlbIncBldr (INB)-a ................ N 9.55 9.08 – 4.9 2.4
ChnStrInfr (UTF)-a ........................... N 26.59 26.18 – 1.5 23.5
COHEN & STEERS MLP INC&E (MIE)-a N 9.93 10.23 + 3.0 9.6
Cohen&SteersQualInc (RQI)-a ......... N 13.97 13.60 – 2.6 23.0
CohenStrsREITPref (RNP)-a ............ N 23.30 21.93 – 5.9 21.9
Cohen&Steers TotRet (RFI)-a .......... N 13.53 14.07 + 4.0 21.2
Columbia Sel Prm Tech Gr (STK) ..... N 20.82 20.93 + 0.5 8.3
Cushing Energy Income (SRF) ........ N 8.11 6.76 – 16.6 – 23.1
CushingMLPTotRet (SRV)-d ............ N 11.74 10.49 – 10.7 – 1.4
Cushing Renaissance (SZC) ............ N 16.89 13.84 – 18.1 – 16.6
DNP Select Income (DNP) .............. N 10.33 11.98 + 15.9 19.3
Duff&Ph Glbl Util Inc Fd (DPG) ........ N 17.14 15.74 – 8.2 17.5
Duff&Ph Sel MLP&MS Engy (DSE). N 5.32 5.18 – 2.6 0.4
EtnVncEqtyInc (EOI) ....................... N 15.36 15.23 – 0.8 3.8
EtnVncEqtyIncoII (EOS) ................. N 16.96 17.41 + 2.7 4.9
EVRskMnDvsEqInc (ETJ) ............... N 9.45 9.55 + 1.1 7.2
ETnVncTxMgdBuyWrtInc (ETB) ..... N 14.89 15.63 + 5.0 3.5
EtnVncTxMgdBuyWrtOpp (ETV) ..... N 14.28 15.44 + 8.1 6.7
EvTxMnDvsEqInc (ETY) ................. N 12.05 12.03 – 0.2 3.3
EtnVncTxMgdGlbB (ETW) .............. N 10.27 9.85 – 4.1 – 9.6
EVTxMnGblDvEqInc (EXG) ............. N 8.73 8.29 – 5.0 – 4.9
First Trust Energy Inc G (FEN) ......... A 22.57 23.40 + 3.7 10.9
First Tr Enhanced Eq (FFA) .............. N 16.09 15.98 – 0.7 7.5
First Tr Specialty Fn (FGB) ............... N 5.87 6.29 + 7.2 15.2
FirstTrEnergyInfra (FIF) .................. N 18.11 16.30 – 10.0 8.8
FirstTrMLPEner&Inc (FEI) .............. N 12.74 12.09 – 5.1 2.0
Gab Gl Util & Inc (GLU)-ah ................ A 19.63 18.57 – 5.4 6.4
Gabelli Healthcare (GRX)-h .............. N 12.17 10.64 – 12.6 8.4
Gab Utility (GUT)-ah ......................... N 4.97 7.22 + 45.3 39.2
GAMCOGlGold&NatRes (GGN)-a ..... A 4.47 4.61 + 3.1 4.9
GAMCO NR GLD & INC TR (GNT)-a .. N 6.22 5.92 – 4.8 7.2
J Han Finl Opptys (BTO) .................. N 32.97 32.41 – 1.7 – 9.5
Macquarie/FirstTr Gl (MFD) ............ N 11.38 10.42 – 8.4 5.7
Madison CovCall & Eq Str (MCN) .... N 7.21 6.60 – 8.5 – 4.1
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.com45800
41850
37900
33950
30000
26050
22100
4Q 18 1Q 19 2Q 19 3Q 19*Herzfeld
Closed-End
Average
Dow Industrials
50000
47250
44500
41750
39000
4Q 1Q 2Q 3QNet Asset Value
-4
-6
-8
-10
-12
-14
4Q 18 1Q 19 2Q 19 3Q 19% 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 06/28/19Temperature Extremes: The Dow remained hot, powering to new highs with a
0.49% gain for the week ended Thursday. But the Herzfeld Average cooled -0.35%.
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 +0.22
Citigroup Panic/Euphoria Model
-0.9
-0.6
-0.3
0
0.3
0.6
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
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0.0
Q3
16Q4 Q1
17Q2 Q3 Q4 Q1
18Q2 Q3 Q4 Q1
19Q2 Q3THREE YEAR TED SPREAD
Friday's Close 0.14TED Spread = 3-mth LIBOR – 3-mth T-bill rate