This past Friday the Labor Department released the nonfarm payroll report for March.
The second quarter began with the U.S. ISM manufacturing release for the month of March (Figure 1). Consensus estimates called for an increase to 54.0 from February’s 53.2.
2014 marks my thirtieth anniversary working with closed-end funds. Much has changed over three decades, but perhaps the most significant change is the shift in shareholder base. Understanding who owns a fund's shares gives great insight into how those investors are likely to react in various market environments, and, in some cases, may impact a fund’s future course.
Past performance is not a guarantee of future results.
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