Closed-end Fund Review - Fourth Quarter 2020
Following the third quarter, when the average closed-end fund (CEF) was up 3.27%, CEFs continued their positive momentum and increased—on average—by 12.75% during the fourth quarter. ( The significant rally many CEFs had in the second, third and fourth quarters was enough to bring the average CEF to a positive total return of 2.66% for all of 2020. While this might not seem all that impressive, when you consider the average CEF was lower by 23.46% at the end of the first quarter as a result of the initial shutdown of the global economy, the roughly 3% average total return for 2020 becomes much more impressive. (Source: Morningstar. All performance is based on share price total return).

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Posted on Friday, January 22, 2021 @ 9:42 AM

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.