You are evaluating a closed-end mutual fund and see that its price is different from its net asset value (NAV). The fund has an expense ratio () of 3.23% and a dividend yield () of 4.00%. The fund has experienced a risk-adjusted abnormal return () of 2.81%.

By what amount (premium or discount) is the fund likely to trade relative to its NAV? (Round your answer to 2 decimal places. Use a negative sign to indicate a discount.)

Premium / Discount %