Subject: Re: $STEW at 23% discount
“ The unusual NAV discount combined with this month’s announced 22.2% annual payout increase—will perhaps put this on investment radars.“ Btw, over the years stew has become incrementally more shareholder friendly with lower fees and a higher dividend. However, I suspect if you and I were running the fund, we would be aggressive buyers at a 22 percent discount over a higher dividend. Unlike Adx and many other cefs there is no chance an activist can step in and push for a tender offer. The higher dividend reduces the chance of a tender, imo.