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Samstag, 19. April 2014

18% Yielding CEFL Trading At A Discount To Effective Intrinsic Value

18% Yielding CEFL Trading At A Discount To Effective Intrinsic Value


Summary
  • With CEFL trading at $27.72 and the net asset value of CEFL at 27.7142, the effective intrinsic value of the 30 components could be considered to be $28.98.
  • The 30% increase in MORL and the increase in the price of many of the mREITs was mostly the result of the convergence between the NAV and http://seekingalpha.com/article/2128223-18-percent-yielding-cefl-trading-at-a-discount-to-effective-intrinsic-valuemarket prices.
  • On a monthly compounded basis, the effective annualized yield on CEFL is 18%.
UBS ETRACS Monthly Pay 2x Leveraged Closed-End Fund ETN (CEFL) yields 18% on a monthly compounded basis. The index upon which it is based contains 30 closed-end funds. The components of the index are selected and weighted based on a formula based on three factors: yield; share price discount from net asset value; and trading liquidity, with the 30 highest-ranking funds included in the Index.



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