Second Quarter 2019 Overview
After a very solid first quarter of 2019 when the average Closed-End Fund (CEF) was up 11.8%, the momentum continued in the second quarter with the average CEF gaining 2.8%. Through the first half of the year, the average CEF is now up 15.1%. It continues to be a broad-based rally across most categories of the CEF marketplace. While Equity CEFs were up on average 0.6% during the second quarter (and are now up 15.9% for the first half of the year), it was the fixed-income funds that on average provided the biggest gains. Taxable Fixed-Income CEFs were up on average 4.0% for the second quarter (and are now up 15.7% for the first half of the year), while the average Municipal CEF gained 4.3% (now up 14.2% for the first half of the year). (Source: Morningstar. All data is share price total return).
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Posted on Monday, July 22, 2019 @ 1:37 PM
Posts are 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.