4 Reasons To Sell Alpine Total Dynamic CEF
By Jeffrey Gall:I believe that the Alpine Total Dynamic (AOD) closed-end fund is poised for both a dividend cut and underperformance relative to the S&P 500 index during 2012. Here are four reasons to avoid AOD at all costs. I strongly encourage investors to look at other closed-end funds for their portfolios.
1. Historical Performance
Besides AOD, Alpine manages two other closed-end funds - Global Dynamic Dividend (AGD) and Global Premier Properties (AWP). This article focuses on AOD only. AOD did an initial public offering (IPO) in early 2007. The net asset value (NAV) following the IPO was $20 less $0.90 per share (sales load) for a total of $19.10 per share. Since this time, AOD has paid out $7.73 per share in dividends. The NAV as of December 28, 2011 is $4.77. Thus, AOD has lost: ($7.73 + $4.77) - $19.10 = -$6.60 per share over its lifetime, which represents aComplete Story »
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