Equity CEFs: Peak Despair? [Seeking Alpha]
Blackrock Capital and Income Fund, Inc. (CII)
US:NYSE Investor Relations:
blackrock.com/investing/products/240242/blackrock-enhanced-capital-and-income-fund-inc-usd-fund
Company Research
Source: Seeking Alpha
Summary On September 13th, I wrote an article called Peak Insanity when I felt the love affair for equity CEFs had gone too far and premium valuations were everywhere. Since that time, valuations have plummeted and many funds are at significantly better valuations. On the other hand, some just defy logic. Because of their low trading volumes and liquidity, CEFs can end up being extreme measures of fear and greed. Another feature of CEFs is that they tend to lag the broader market moves but once they get going, they tend to overshoot to the upside or downside. On September 13th, I wrote this article, Equity CEFs: Peak Insanity? , when I felt valuations of many of the equity CEFs I follow (roughly 100) had gotten too high. Here is the spreadsheet I included in the article showing the number of equity CEFs trading at market price premiums to NAV. These are shown in red in the Premium/Discount column. Over 1/3 of the funds I followed (35 roughly) were at pr
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