1. Closed-end funds (CEFs) are attractive for income investors with high distributions and reasonable returns; 2. This article highlights five CEFs with strong performance and 'excess' discounts; 3. The author's investment approach aims for lower drawdowns, higher current income, and market-beating growth.

1. The article discusses the potential opportunities in closed-end fund structures, particularly exploiting discounts and premiums. 2. It highlights two funds, SPE and PFO, that are believed to be attractively valued and provide monthly distributions. 3. The author, Nick Ackerman, is a former financial advisor with expertise in closed-end funds and exchange-traded funds.

1. The abrdn Healthcare Investors fund is rated 'sell' due to its mismatch with income investing and managed distribution plans; 2. The fund has underperformed the Nasdaq Biotechnology Index and iShares Biotechnology ETF, indicating its inability to generate alpha compared to more tax-efficient alternatives; 3. The fund's high yield is unsustainable, relying on capital gains and potentially forcing premature sales, which is not suitable for income-oriented investors.

1. BlackRock Science and Technology Trust (BST) offers an 8% dividend yield through periodic sales of investments and option strategies. 2. BST primarily invests in tech companies with significant exposure to semiconductors, software, and tech hardware. 3. Managed by BlackRock, BST provides a high dividend yield compared to low-yield tech ETFs like Invesco QQQ Trust (QQQ).

1. Closed-end funds have seen significant discount narrowing in 2024; 2. Despite record highs in major indices, opportunities still exist; 3. Funds like BME and FLC may offer attractive entry points.

1. Closed-end funds have seen significant upside and income in 2024; 2. The article discusses the dynamics driving this strength; 3. The author highlights the importance of community and education in investing.

1. The PIMCO Dynamic Income Opportunities Fund (PDO) offers a high dividend yield of around 11% but requires a deeper analysis beyond yield alone. 2. Despite solid gains, PDO has underperformed the market, warranting a fresh review. 3. It is crucial to evaluate other factors beyond yield to determine if PDO is a worthwhile investment now.

1. The author discusses the positive and negative aspects of closed-end funds (CEFs) and how he discovered their value over time. 2. He explains his analytical approach to selecting CEFs based on NAV performance and how he extended this method to other securities. 3. The author compares CEFs and ETFs in his portfolio and decides to liquidate positions in four funds due to poor NAV performance.

1. We review the CEF market valuation and performance through the fourth week of October; 2. Most CEF sectors were down this week while discounts were mixed; 3. Invesco's CMBS CEF IHTA is set for liquidation in December 2024, with better NAV performance than sister fund IHIT last year.

1. Closed-end funds (CEFs) are an attractive investment class for income investors, offering high distributions and reasonable total returns. 2. CEFs are characterized by higher volatility and deeper draw-downs than the broader market. 3. This article highlights five CEFs with solid track records and 'excess' discounts, selected from around 500 CEFs using a filtering process.

1. Adams Natural Resources Fund (PEO) has implemented an 8% managed distribution policy, enhancing its quarterly distributions. 2. The fund offers a 9.5% annual distribution yield and trades at a 13.4% discount to its NAV. 3. Saba Capital, a notable closed-end fund activist, has been increasing its holdings in PEO, indicating potential for further growth.

1. First Trust Specialty Finance and Financial Opportunities Fund is set to be acquired by abrdn Total Dynamic Dividend Fund, but the process is taking longer than expected due to difficulties in obtaining shareholder approval. 2. The acquisition will significantly change FGB's underlying portfolio, moving from a focus on BDCs to a more diversified global fund. 3. Currently, the acquisition does not seem beneficial for FGB shareholders in terms of valuation, as AOD trades at a wider discount.

1. The author added to or initiated positions in five closed-end funds in June 2024, while selling out of two positions. 2. The market's upward trend was primarily driven by mega-cap tech stocks, with narrow participation. 3. The author discusses the strategy behind each investment decision, considering factors such as market trends, fund performance, and potential for future growth.