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Jeff Margolin
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  Closed-end Fund Review - Third Quarter 2020
Posted Under: CEFs
THIRD QUARTER 2020 OVERVIEW
Building on the 15.04% positive total returns earned during the second quarter of 2020, closed-end funds (CEFs) continued their positive momentum during the third quarter. Indeed, the average CEF was positive by 3.27% during the third quarter. Despite two solid back-to-back quarters for CEFs, the average CEF remains lower by 9.00% year-to-date (YTD). (Source: Morningstar. All performance is based on share price total return) While the average CEF remains lower for the year, it is important not to lose sight of the remarkable rally many CEFs have staged since the third week of March. To that end, the First Trust Composite Closed-end Fund Total Return Index (UPCEFT) is up 48.20% from 3/18/20 to 9/30/20 (Source: Bloomberg).

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Posted on Monday, October 26, 2020 @ 9:45 AM • Post Link Share: 
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These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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