AUTHOR
Ronald Guerrini
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The market discount of Cohen and Steers Dividend Majors Fund (DVM) shares has narrowed by more than 11% in less than two months. On the evening of September 15th, 2010 Cohen & Steers announced adopting a level rate distribution policy, and declared third quarter distributions for its affected Closed-End Funds. That afternoon, DVM had closed at $11.20, a 15.66% discount to its $13.28 Net Asset Value (“NAV”). Yesterday, November 4th 2010 DVM closed at $13.61, a 2.86% discount to its $14.01 NAV. (Data source: CEF Connect)
For the first quarter of this year, so far equity markets have performed quite well.
A major cause for concern regarding the recent run up in equities is the relatively low volume that has accompanied this rally.
Setbacks aside, Target still has good fundamentals.
