The previous quarter was a successful one for the fund. The quarter was able to produce enough dividends that there was a distribution made out to investors and charity. The fund made purchases but did not make any sales. The fund's capital base grew 31% from December 31st.
The fund increased its dividends for the quarter by 38% compared to the September-December quarter. The fund will not compare results to the same quarter last year as the info would not be relevant for future projections due to the fund just starting at the beginning of last year.
The fund made purchases in Ford (post link here), AT&T (post link here), and Pennymac Mortgage REIT (post link here) during the quarter. Last week's current holdings numbers can be found here. To compare, the numbers from the last week of December can be found here.
The Apr-Jun quarter looks to be just as positive. Dividend projections look to be in the 40% range compared to the Jan-Mar quarter. Another distribution to investors and charity is expected. There will be 2-3 purchases expected again this quarter with Nuveen Commodity Long/Short Fund, Powershares Build America Bond Fund, and others in the mix. Capital growth for the fund should be in the 20-25% range.
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