OK, I have been holding cash lately. Sold out of PIR the other day. I am getting hardly any interest for holding cash in my account. I came across an issue that pays about %6.34 a year, but pays interest on a monthly basis. Nuveen Senior Income Fund (NSL) is what I am talking about.
The fund is a non-diversified, closed-end management investment company. The fund's investment objective is to achieve a high level of current income, consistent with capital preservation. The Funds investment objective is a fundamental policy of the fund, meaning that it may be changed only by vote of a majority of the shareholders of the fund. The fund will invest primarily in adjustable rate U.S dollar-denominated secured Senior Loans.
Interest Rate Resets Can Mean More Stable Net Asset Value - Frequent rate resets will help eliminate much of the interest rate risk normally associated with fixed-income investing.
I know we all want to hit home runs, but there is nothing wrong with getting a few men on base either. I bought is at $9.22. I don't expect the price to move much (I hope).
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