EXG and ETY: Two Good Buys Ahead of Ex-Dividend Date

Eaton Vance's Tax-Managed Global Diversified Equity Income fund (EXG) and Tax-Managed Diversified Equity Income Fund (ETY) both go ex-dividend on Wednesday, February 16th. I believe this presents an opportunity for investors to get in ahead of the ex-dividend date on two 10%+ yield Closed-End Funds (CEFs) that haven't been this attractive to investors since the spring of 2009 when most Closed-End Funds were recovering off their market lows. Note: An investor would need to purchase the fund(s) by the market close on Tuesday, February 15th to be entitled to the dividend. EXG and ETY have had a rough go of it recently, some of which is deserved, and some of which is based on misinterpretation of the source of these funds' high distributions and why these funds' have lagged in performance. Still, at a 10.44% current annual yield for EXG and a 10.10% current annual yield for ETY even after... Read more