Tornado season began in Minnesota. Touchdown 3 miles from home, scary.
I closed my Wells Fargo Advantage Income Opportunities Fund (EAD) position. This is a closed end fund, and it currently trades at almost 5% premium to net assets value (NAV). This is too much. Discipline says that I can't hold CEF with more than 4% premium.
This is a good fund, it made me money and it pays good dividend. I will buy it back when it trades at discount to NAV.
I still think that corporate debt is a good place to be right now. I'm looking for some alternative to EAD right now.