The 13 closed end fund (CEF) types on average were up 1.9% for the week ending 9/11/09. On an aggregate, unweighted basis, the weekly average price increase for 628 CEFs was also up 1.9%. The weighted 49 CEFs as of 9/11/09 comprising the Claymore CEF Index registered an average increase of 3.2% for the week. The S&P 500, as measured by the SPDR S&P 500 ETF (SPY), registered an increase of 2.7%.
The 628 CEFs’ aggregate, unweighted current distribution yield is 7.3% and is trading at a 4.4% discount (7.4% versus 4.5% the previous week, respectively). Year-to-date, CEFs on average have extended their price appreciation to 43.4%. (Click here for YTD CEF performance. The table is based on a 276 CEF sample size as all the data fields are not available for CEF universe.)

The Eqcome CEF Fear Index projected little fear on the part of CEF investors. The unweighted average price change was up 1.9% versus 0.2% for the related NAV. The CBOE Volatility Index (VIX), which typically moves inversely with the stock market, was down 4.4% as the S&P 500 (SPY) logged in an advance of 2.7%.