CRF is technically not an ETF. It is an actively managed closed-end fund. But it is an exchange-traded product... Anyone want to speculate as to why it tanked almost 12% earlier today? As I write this, it is down about 6% from yesterday's close. The fund has a large stake in AMZN, but I don't think that alone explains what is happening. BMK
I'll guess there was a big seller. CRF is a nut job closed end fund that trades at a premium to NAV. Huge annual dividend is a return of capital. In a raging bull market NAV has dropped from $18.69 year end 2015 to $10.15 year end 2019. Looks to be a horrible investment.
You may be right. There was a massive spike in volume yesterday. Do you think all CEFs are nut jobs? Or only those that trade at a significant premium over a sustained period of time? Or just this particular CEF? BMK