adios
12-31-2003, 08:30 AM
I like closed end mutual funds (CEFs) and exchange traded funds (ETFs) since they allow me to diversify away individual company risk for the most part. Anyway here are some CEF's that have been recommended to me in the last week or so from traders.
HQH
HQH - H&Q Healthcare Investors (http://etfconnect.com/select/fundPages/sectors.asp?MFID=3774)
Note the 13%+ yield:
Pricing Info As Of: 12/30/2003
Closing NAV: $19.67
Closing Share Price: $18.32
Premium/(Discount): -6.86%
Current Market Yield: 13.32%
H&Q Healthcare Investors is a closed-end management investment company. The Fund seeks long-term capital appreciation. The Fund will invest at least 80% of its assets in health services and medical technology companies, that have significant potential for above-average long term growth in revenues and earnings. The Fund may invest up to 40% of assets in venture capital or other restricted securities.
The next one is HQL from the same management company as HQH.
HQL - H&Q Life Sciences Investors (http://Pricing Info As Of: 12/30/2003 )
Pricing Info As Of: 12/30/2003
Closing NAV: $16.90
Closing Share Price: $15.76
Premium/(Discount): -6.75%
Current Market Yield: 8.63%
H&Q Life Sciences Investors is a closed-end management investment company. The Fund seeks long term capital appreciation. The fund will pursue its objective through investment in life sciences companies. The Fund will invest at least 65% of assets in U.S. and foreign health care companies, as well as agricultural and environmental management firms. The Fund may also invest up to 40% of assets in venture capital or other restricted securities.
The next up is FUND
FUND - Royce Global Trust, Inc. (http://etfconnect.com/select/fundPages/us.asp?MFID=3721)
Apparently they're changing the divy policy such that they will give a regular quarterly dividend instead of a big one at the end of the year.
Pricing Info As Of: 12/30/2003
Closing NAV: $9.07
Closing Share Price: $8.41
Premium/(Discount): -7.28%
Current Market Yield: 7.37%
Royce Focus Trust is a closed-end, diversified management investment company. Royce & Associates became the Fund's investment adviser on 11/01/1996. Since that date, the Fund's investment objective has been long-term capital appreciation, which it seeks to achieve by normally investing more than 75 percent of its assets in a limited number of common stocks and other equity securities of domestic and foreign companies, selected using a value approach. While the Fund is not restricted as to stock market capitalization, Royce focuses the Fund's investments primarily in small-cap companies (companies with stock market capitalizations below $1.5 billion).
The next is ABS
ASP - American Strategic Income Portfolio (http://etfconnect.com/select/fundPages/gen.asp?MFID=8033)
Pricing Info As Of: 12/24/2003
Closing NAV: $12.67
Closing Share Price: $12.65
Premium/(Discount): -0.16%
Current Market Yield: 6.88%
American Strategic Income Portfolio is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide a high level of current income; its secondary objective is to seek capital appreciation. To realize its objectives, the fund emphasizes investments in mortgage-related assets that directly or indirectly represent a participation in or are secured by and payable from mortgage loans. The fund may also invest in asset-backed securities, U.S. government securities, corporate debt securities, municipal obligations, unregistered securities, derivative mortgage-backed securities and mortgage servicing rights. The fund may use options. The fund may leverage through borrowing.
The next up is an index ETF OIH.
OIH - HOLDRS Oil Services Trust (http://etfconnect.com/select/fundpages/etf_funds.asp?MFID=22832)
Pricing Info As Of: 12/30/2003
Closing NAV: $62.85
Closing Share Price: $62.85
Premium/(Discount): 0.00%
Current Market Yield: 0.38%
The Oil Service HOLDRS Trust is intended to hold deposited shares for the benefit of owners of Oil Services HOLDRS. The trustee will perform only administrative and ministerial acts. The property of the fund will consist of the underlying securities and all monies or other property, if any, received by the trustee. The trust will terminate on December 31,2041,or earlier if a termination event occurs. The trust will issue Oil Services HOLDRS under the depositary trust agreement. After the initial offering, the trust may issue additional Oil Service HOLDRS on a continuous basis when an investor deposits the requisite underlying securities with the trustee.
Next is FF which pays a big year end divy (it's already gone x divy) which doesn't show up here. I think they paid a divvy of $2.72 a share in 2003 and about $3.00 a share in 2002.
FF - First Financial Fund (http://etfconnect.com/select/fundPages/sectors.asp?MFID=3669)
Pricing Info As Of: 12/26/2003
Closing NAV: $17.89
Closing Share Price: $17.42
Premium/(Discount): -2.63%
Current Market Yield: 0.90%
First Financial Fund is a closed-end management investment Company. The Fund's primary investment objective is to achieve long-term capital appreciation with the secondary objective of current income by investing in securities issued by savings and banking institutions and their holding companies. Approximately 65% of assets will be invested in savings, banking, and holding institutions of small to medium size. At least 75% of assets will be invested in equities, with the remainder in debt securities. The Fund may leverage itself through borrowing.
The last one is FRF.
FRF - France Growth Fund, Inc. (http://etfconnect.com/select/fundPages/global.asp?MFID=3882)
Pricing Info As Of: 12/30/2003
Closing NAV: $8.45
Closing Share Price: $7.45
Premium/(Discount): -11.83%
Current Market Yield: 5.03%
France Growth Fund, Inc. is a diversified, closed-end management investment company. Its investment objective is long-term capital appreciation through investment primarily in French equity securities. At least 65% of the Fund's total assets will be invested in French equity securities. The Fund may invest up to 20% of its total assets in unlisted French equity securities and unlisted investment grade French debt securities that may be readily marketable; 35% of its total assets in investment-grade listed French debt securities and 10% of its total assets in publicly traded equity and investment-grade debt securities issued by non-French Western European issuers and denominated in currencies other than the Franc. The fund will engage in hedging activities.
HQH
HQH - H&Q Healthcare Investors (http://etfconnect.com/select/fundPages/sectors.asp?MFID=3774)
Note the 13%+ yield:
Pricing Info As Of: 12/30/2003
Closing NAV: $19.67
Closing Share Price: $18.32
Premium/(Discount): -6.86%
Current Market Yield: 13.32%
H&Q Healthcare Investors is a closed-end management investment company. The Fund seeks long-term capital appreciation. The Fund will invest at least 80% of its assets in health services and medical technology companies, that have significant potential for above-average long term growth in revenues and earnings. The Fund may invest up to 40% of assets in venture capital or other restricted securities.
The next one is HQL from the same management company as HQH.
HQL - H&Q Life Sciences Investors (http://Pricing Info As Of: 12/30/2003 )
Pricing Info As Of: 12/30/2003
Closing NAV: $16.90
Closing Share Price: $15.76
Premium/(Discount): -6.75%
Current Market Yield: 8.63%
H&Q Life Sciences Investors is a closed-end management investment company. The Fund seeks long term capital appreciation. The fund will pursue its objective through investment in life sciences companies. The Fund will invest at least 65% of assets in U.S. and foreign health care companies, as well as agricultural and environmental management firms. The Fund may also invest up to 40% of assets in venture capital or other restricted securities.
The next up is FUND
FUND - Royce Global Trust, Inc. (http://etfconnect.com/select/fundPages/us.asp?MFID=3721)
Apparently they're changing the divy policy such that they will give a regular quarterly dividend instead of a big one at the end of the year.
Pricing Info As Of: 12/30/2003
Closing NAV: $9.07
Closing Share Price: $8.41
Premium/(Discount): -7.28%
Current Market Yield: 7.37%
Royce Focus Trust is a closed-end, diversified management investment company. Royce & Associates became the Fund's investment adviser on 11/01/1996. Since that date, the Fund's investment objective has been long-term capital appreciation, which it seeks to achieve by normally investing more than 75 percent of its assets in a limited number of common stocks and other equity securities of domestic and foreign companies, selected using a value approach. While the Fund is not restricted as to stock market capitalization, Royce focuses the Fund's investments primarily in small-cap companies (companies with stock market capitalizations below $1.5 billion).
The next is ABS
ASP - American Strategic Income Portfolio (http://etfconnect.com/select/fundPages/gen.asp?MFID=8033)
Pricing Info As Of: 12/24/2003
Closing NAV: $12.67
Closing Share Price: $12.65
Premium/(Discount): -0.16%
Current Market Yield: 6.88%
American Strategic Income Portfolio is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide a high level of current income; its secondary objective is to seek capital appreciation. To realize its objectives, the fund emphasizes investments in mortgage-related assets that directly or indirectly represent a participation in or are secured by and payable from mortgage loans. The fund may also invest in asset-backed securities, U.S. government securities, corporate debt securities, municipal obligations, unregistered securities, derivative mortgage-backed securities and mortgage servicing rights. The fund may use options. The fund may leverage through borrowing.
The next up is an index ETF OIH.
OIH - HOLDRS Oil Services Trust (http://etfconnect.com/select/fundpages/etf_funds.asp?MFID=22832)
Pricing Info As Of: 12/30/2003
Closing NAV: $62.85
Closing Share Price: $62.85
Premium/(Discount): 0.00%
Current Market Yield: 0.38%
The Oil Service HOLDRS Trust is intended to hold deposited shares for the benefit of owners of Oil Services HOLDRS. The trustee will perform only administrative and ministerial acts. The property of the fund will consist of the underlying securities and all monies or other property, if any, received by the trustee. The trust will terminate on December 31,2041,or earlier if a termination event occurs. The trust will issue Oil Services HOLDRS under the depositary trust agreement. After the initial offering, the trust may issue additional Oil Service HOLDRS on a continuous basis when an investor deposits the requisite underlying securities with the trustee.
Next is FF which pays a big year end divy (it's already gone x divy) which doesn't show up here. I think they paid a divvy of $2.72 a share in 2003 and about $3.00 a share in 2002.
FF - First Financial Fund (http://etfconnect.com/select/fundPages/sectors.asp?MFID=3669)
Pricing Info As Of: 12/26/2003
Closing NAV: $17.89
Closing Share Price: $17.42
Premium/(Discount): -2.63%
Current Market Yield: 0.90%
First Financial Fund is a closed-end management investment Company. The Fund's primary investment objective is to achieve long-term capital appreciation with the secondary objective of current income by investing in securities issued by savings and banking institutions and their holding companies. Approximately 65% of assets will be invested in savings, banking, and holding institutions of small to medium size. At least 75% of assets will be invested in equities, with the remainder in debt securities. The Fund may leverage itself through borrowing.
The last one is FRF.
FRF - France Growth Fund, Inc. (http://etfconnect.com/select/fundPages/global.asp?MFID=3882)
Pricing Info As Of: 12/30/2003
Closing NAV: $8.45
Closing Share Price: $7.45
Premium/(Discount): -11.83%
Current Market Yield: 5.03%
France Growth Fund, Inc. is a diversified, closed-end management investment company. Its investment objective is long-term capital appreciation through investment primarily in French equity securities. At least 65% of the Fund's total assets will be invested in French equity securities. The Fund may invest up to 20% of its total assets in unlisted French equity securities and unlisted investment grade French debt securities that may be readily marketable; 35% of its total assets in investment-grade listed French debt securities and 10% of its total assets in publicly traded equity and investment-grade debt securities issued by non-French Western European issuers and denominated in currencies other than the Franc. The fund will engage in hedging activities.