19% canada goose uk outlet and was trading a discount of 7

DWS High Income Opportunities Fund NYSE

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official canada goose outlet Time to scratch another closed end fund off of your CEF watch list. official canada goose outlet

canada goose outlet los angeles Earlier today, Deutsche Bank announced the final distribution, liquidating the DWS High Income Opportunities Fund (DHG). canada goose outlet los angeles

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canada goose outlet location DHG has a canada goose clearance storied past having been launched as the DWS Dreman Value Income Edge Fund on canada goose clearance sale November 22nd, 2006. canada goose outlet location

canada goose outlet store montreal When launched, the fund had a dual mandate of providing a total return Canada Goose online through investing in both an income strategy and a 10% to 40% uk canada goose outlet allocation to a hedged equity strategy. The fund was managed and advised by the Dreman Value Management team founded by the famous contrarian and value Canada Goose Outlet investor David Dreman. canada goose outlet store montreal

canada goose outlet price Unfortunately, a few short years after launch, the fund’s value tilt and sizeable position in energy Canada Goose Jackets brought the fund to its knees during the Great Financial Crisis. canada goose outlet price

canada goose outlet near me Fortunately like many closed end funds, DHG did recover off of its lows, even though it never canada goose uk reached its initial points. canada goose outlet near me

canada goose outlet in chicago During that time, however, canada goose store DHG’s discount to NAV remained extremely elevated and quite attractive. attractive enough to get the canada goose uk shop attention of a number of activist funds. canada goose outlet in chicago

canada goose outlet woodbury I initially brought the fund to my reader’s attention on May 27th, 2016 canadian goose jacket in the article, “The DWS High canada goose coats Income Opportunities Fund: The Activists Won.” canada goose outlet woodbury

canada goose outlet winnipeg At the time, the fund was yielding an Canada Goose Parka income only distribution of Canada Goose Online 6.19% canada goose uk outlet and was trading a discount of 7.91% to its net asset value. canada goose outlet winnipeg

canada goose outlet ontario The real attractive point, however, canada goose is that the activists were able to get the fund to Canada Goose Coats On Sale start monetizing that discount to canada goose black friday sale NAV through a number of actions. canada goose outlet ontario

canada goose outlet in canada The activist funds were able canada goose coats on sale to get the board to change the fund’s objectives to focus on the income bucket, rather than a hedged strategy and were able to force the fund to do a tender offer of up to 25% of the shares at a price equal to 99% of the NAV. DHG also conducted buybacks on the open markets uk canada goose when the market price was below the NAV. canada goose outlet in canada

canada goose outlet in toronto Source: “The DWS High Income Opportunities Fund: The Activists Won.”At the Fund’s 2015 Annual Meeting held on September 30, 2015, the Fund’s stockholders approved unicorndesigns the amendment to the Fund’s Articles of Incorporation, limiting the Fund’s term of existence until March 30, 2018, or buy canada goose jacket such earlier date as may be determined canada goose factory sale by the Fund’s Board, at which time the Fund will be liquidated. canada goose outlet in toronto

canada goose outlet washington dc Source: DHG Annual Report canada goose outlet washington dc

canada goose outlet in usa What that meant is that investors were going to cheap canada goose uk earn an additional 8% (discount to NAV) if they held the fund over the next two years. canada goose outlet in usa

canada goose womens outlet I summed up my initial article with this, canada goose womens outlet

canada goose outlet seattle This is a good fund that has beaten the high yield ETF. The portfolio is on the higher quality of High Yield and management plans on keeping it there. There is an attractive income only distribution generated with moderate canada goose uk black friday leverage in cheap Canada Goose a fund currently trading at a near 8% discount to NAV. Most of all, there is a defined game plan to monetize the discount to buy canada goose jacket cheap NAV and return shareholder capital. canada goose outlet seattle

canada goose outlet nyc With DHG. you have a Bulldog looking out for you. This fund is worth a look. canada goose outlet nyc

canada goose outlet montreal Source: “The DWS High Income Opportunities Fund: The Activists Won.” canada goose outlet montreal

canada goose outlet trillium parka black We took Canada Goose sale an updated look at the fund in the article, “DHG: The Register Is Almost Rung!” on July 26th, 2017. canada goose outlet trillium parka black

goose outlet canada By this time, the fund distributed a 5.34% distribution yield and was trading at a discount of 3.24% goose outlet canada.