What is this fund? Is this something I and you can buy? And what is that over 14% div? Is that the return yearly on the amount one has invested? thanks.. http://finance.yahoo.com/q?s=phk
its a closed end junk bond fund. you can buy it just like a stock. Pricing Info As Of: 06/10/2005 Closing NAV: $15.11 Closing Share Price: $14.49 Premium/(Discount): -4.10% Current Market Yield: 10.10% INVESTMENT OBJECTIVE The Fund's primary investment objective is to seek high current income. Capital appreciation is a secondary objective. The Fund will normally invest at least 80% of its net assets in debt securities that are, at the time of purchase, rated below investment grade or unrated but judged by the portfolio manager to be of comparable quality.