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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
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 4.63% and a dividend yield () of 4.00%. The fund has experienced a risk-adjusted abnormal return (d) of 3.86% Required: What is the premium or discount of the fund over its NAV? (Round your answer to 2 decimal places. Use a negative sign to indicate a discount.)
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