I’m Pat Rosenheim, a.k.a. the PandA Trader.
I decided to do some hunting for yield, return, and stability (Ha!)
First, I pulled up my favorite screen on CEFCONNECT and then I ran each of those symbols through a charting process.
First, the initial screen results;
And then, one by one, I added them to the free PerfCharts function on stockcharts.com.
I typed AWF and clicked GO (default 200 day charts displayed).
And then I just kept typing the symbols one by one until I reached 10 (the maximum for this function) and removed the worst performer;
See ya, wouldn’t wanna be ya!
I have to tell you; ETO, ETG, & GBAB were way below the others and were summarily dismissed, not making it through this process. AWF & STK were chosen because they had come up recently in comments on another site. BTW, sometimes you’ll learn more from the comment section than in the original post. 😉
I eliminated JPS, JMT, etc., until I had reached the end of the initial screening results. I picked the top 3 remaining (HYB, PLF, TLI, and even left AWF until the end and then added STK, too (just to compare them both against the top performers).
I then started adding our holdings based on Total Return; I added 7 of these (BGH, CSQ, DHY, PHK, IVH, GOF, FHY);
RA, BDJ, & KIO weren’t included only because there wasn’t room. It could be argued that the same elimination process be applied to get a “true” top ten, removing the lowest performer and adding from the remaining pool of 3. I decline to acquiesce! Apologies!
I actually did, and still came approximately to the following conclusion. Only RA wasn’t put through this process, having only ~25 days history (new symbol).
It should be noted that all of the current portfolio top ten perfomers yield in excess of 10% in Total Return.
Sorry, AWF & STK, you came highly recommended, but you didn’t make it to final selection. Better luck next time!
The end result was a “Top Ten” list; HYB, PFL, TLI, BGH, CSQ, IVH, DHY, PHK, GOF, FHY (not in that order).
So, it looks like I’ll be thinking about adding HYB, PFL, & TLI to our portfolio. Maybe nibble a little each week, who knows?
It certainly warrants a closer look.
UPDATE: 1/12/17 I actually just posted a comment about modifying the process slightly with the results. I wanted to show you the screening criteria used on cefconnect.com;