Second Quarter 2017 Overview
The second quarter of 2017 was another solid one for diversified closed-end fund (CEF) investors. The average fund was up 3.50% for the quarter and is now up 8.82% year-to-date (YTD). It was a broad based rally again this quarter with equity funds up on average 2.91%, taxable fixed-income funds up 4.10% and municipal funds up 3.60%. Equity CEFs are now up on average 11.42% YTD, taxable fixed-income funds are up on average 8.93% YTD and municipal funds are up 6.02% YTD (Source: Morningstar. All data is share price total return).
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