The truth is, you can buy some of the best large cap dividend payers for cheaper: and I don’t mean a little cheaper. I’m talking a 16% discount. How? Through a closed-end fund (CEF) that’s trading at a ridiculously high discount to its net asset value (NAV). That’s despite a strong track record, low expenses and an attractive 4.4% dividend yield. Let’s break each of those things down one at a time, starting with the name of this unheralded investment.
It’s called Tri-Continental Corporation (TY), and it holds some of America’s safest and highest-quality stocks. But you wouldn’t know it by looking at the gap between the value of its assets and its share price: due to irrational investor fears and a lack of knowledge about CEFs generally, Tri-Continental is trading at a 16% discount to the value of its top-notch portfolio today.
Source: InvestorPlace
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