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Morningstar, Inc. Commentaries

CEF Update: News You Can Use

Sep 23, 2014
Click here to access CEF Update: News You Can Use

Leverage Changes

Gabelli Health & Wellness (GRX) announced that it recently completed the offering of 1.4 million 5.875% Series B Cumulative Preferred shares, raising a total of $35 million.

Tender Offers
The Central Europe, Russia, and Turkey (CEE) fund announced the final results of its tender offer that expired Sept. 9, 2014. Under the final calculations, 7.33% of the fund’s shares were repurchased at a price of $29.88. Given that the shares currently trade for $25.81 as of Sept. 19, 2014, this was a good deal for shareholders.

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Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individuals, financial advisors, and institutions.

Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 8 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services and has approximately $195 billion in assets under advisement or management as of Sept. 30, 2012. We have operations in 27 countries.