AGC is a closed end income fund, invested mainly in treasuries, selling at about 15% discount. The interesting part is this:Supposedly there is something in the prospectus that says shareholders can vote to make it an open-end fund when shares are priced at this much of a discount. The author of the below article, says this conversion, if approved and completed, would give a nice 15% jump in price. http://seekingalpha.com/article/1872191-alliancebernstein-in...
And, per CEFConnect, the Income Only distribution on this is just under 6%. Not bad.
P.S. Just a few things, I did notice that when you click on the link that I posted, you might have to sign up to see page two, which has most of the facts and figures. I didn't mean to post something that requires you to sign up for something. However, it is a free mailing if you do. The fund does some leverage. So, a big jump in interest rates over the next 6 months might wipe out a potential 15% capital gain if the fund goes open-ended. And last, probably most closed-end bond funds are priced at a big discount from net asset value (NAV) right now. The exceptional thing about ACG is the possibility of it becoming an open end fund.
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