August saw a return to volatility which curtailed further discount tightening in the CEF market.
We saw a slew of cuts- primarily in munis again- as interest rates continue to fall putting pressure on earnings.
In the last 30 days, only 35 funds saw NAV performance greater than +1.0% while there were 204 funds that fell by -1.0% or more.
Being choosy is extremely important in this environment. As investors, we tend to get programmed as to which funds are "good" and which are "bad" but those labels can change.