Incorrect adjusted NAVs for closed-end funds
I have noticed that NAVs of many closed-end funds have incorrect adjusted prices on the ex-div dates. Example:
DSL ex-div date = 11/13/2019 Distribution amt.= $.15
Prices shown are:
11/12/2019 18.96
11/13/2019 19.16
11/14/2019 19.00
The adj. price on 11/13/2019 should be 19.16-.15 =19.01. It appears that distribution amt. is not being subtracted from the price on the ex-div date.
At a minimum, the following tickers are also wrong although the following are just those I had time to check.
xBGHx, xDSLx, xEADx, xEVVx, xFSDx, xHYTx, xMCRx, xMMTx
xPPTx, xAFTx, xBGTx, xEFRx, xEFTx, xFCTx, xCHIx, xCHYx,
xNCVx, xNCZx
There are two other types of errors. It does not look like the adjusted prices of xEHIx and xEMDx reflect the most recent dividend (both ex-div 11/21/2019). Finally, it looks like the adjusted price of xJQCx (ex-div 11/14/2019) only reflects the the $.045 taxable dividend portion of the distribution rather than the entire $.1035 distribution (includes $.059 ROC). The adjusted price of the actual stock, JQC, does appropriately reflect the entire $.104 distribution. Thanks.
James Gislason
shared this idea
Thanks for your post! We have reported this to our Engineering team and they will look into this further.
Regards,
Yahoo Finance