Jul. 3 at 8:32 PM
$UTG $ETY Sold out of my positions today in my taxable account after many years. I had reached a 45% unrealized gain in UTG and 35% in ETY, which is obviously very nice, but unfortunately capital appreciation doesn't earn you income -- especially when it's that much. It was a lot of money sitting there not doing anything, and the thought of losing it in another market downturn was troubling.
Both UTG and ETY are best of breed CEFs -- probably two of the most reliable ones out there. I'll be back, but for now I need to put these gains to work elsewhere. I expect both to run a little further SP-wise, but my original shares were yielding me over 9% and 10% and any new purchases would only yield 6.6% and 7.7% respectively.
I still own UTG in my ROTH though, and dripping monthly -- five more years to go!
GL all and happy 4th!
