Jul. 6 at 11:49 PM
$UTG (Utility Income Fund)
$GUT
Granted the current yield on this (6.3%) is lower than what I would normally play with CEF's, but this one has a lot lower level of risk IMHO and a few other things going for it that make 6.3% palatable...
- It's a CEF with solid growth history - I'm in for the growth
- It pays an ever increasing distribution (currently
$0.21 /mth)
- It's currently trading at a discount to NAV (-2.41% vs its -0.39% norm)
- Current frwd looking TP of
$40.91 based on 52-Wk Dscnt. to NAV avg.
- NAV increased today
$0.09 to
$41.07
After a little wheel'n and deal'n today, I'm now sitting on an initial position of 187.622 shs w/ an avg. PP of
$39.97. Ex-div: July 17th
Thanks for mentioning @1000kv! @antisocial @copperhat 🍀🍀🥃