I"ve also been somewhat "underwhelmed" by ETO's performance lately.  However, there's no really safe place to turn to; ETO has shown great growth in the past when the market allowed; and that 8%+ dividend paid monthly is very comforting.

Zwilnik

Now, its trading at almost a 20% discount. This is probably a good entry point, not a good exit point. Owning and benefitting from CEFs for the long term requires even greater patience than open-ended funds. They are not places to park cash.

ETO's distribution at its closing price of 18.62 yesterday is 11.57%. It has taken a beating because most of its portfolio is oil and basic materials. Its NAV is down 50% from its 52 week high. I would agree that if you hold it, it would probably be better to keep holding it at this level or possibly buy more. I don't hold it but am considering buying it. The question to me is whether the basic materials and oil have hit a bottom.

Of course, they will go up sometime in the future. In the meantime its payout will ease the pain. 

Gene

 

I don't think there is any way to get around this fact:

Higher Yield = Higher Risk (at least to one's principal)

t