[Entering Position In Evergreen Income Adv Fd (EAD)]
Dear Member:
Evergreen Income Adv Fd (EAD)is a closed end fund similar to my holding in Nuveen Senior Income (NSL) and is currently paying dividends monthly with an annual yield around 9.6%. Closed end funds trade precisely like stocks, and EAD has just broken above a resistance. I do not expect this position to be a home run, but rather one that is relatively non-volatile, pays regular income at a good rate and offers the possibility of some price appreciation. I am placing an order to buy at a limit of $14.40 for the day. I should also note that EAD does not trade a very high volume of shares per day (probably an average of around 250,000) so I will not enter with a huge number of shares.
DISCLOSURE: At the time of publication, I have no position in EAD.
Sincerely,
Bill Kraft
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