Wall Street's Deepest Values: 5 Cheap CEFs Yielding 7%+

Core Insights - Closed-end funds (CEFs) are currently trading at significant discounts, presenting potential investment opportunities for contrarian investors [2][3] - The article highlights several CEFs with attractive distribution rates and strategies, emphasizing their potential for income generation despite market inefficiencies [4][19] Group 1: CEFs Overview - CEFs can trade below their fair value for extended periods, with discounts reaching up to 12% [3][6] - Investors can secure yields as high as 9.7% from these funds, making them appealing for income-focused strategies [3][18] Group 2: Specific CEFs - Nuveen Dow 30 Dynamic Overwrite Fund (DIAX): Offers an 8.4% distribution rate, utilizing a covered call strategy to reduce volatility while aiming for returns [4][5] - Neuberger Berman Next Generation Connectivity Fund (NBXG): Provides an 8.3% distribution rate, focusing on technology and connectivity stocks, including significant players in artificial intelligence [7][9] - Royce Micro-Cap Trust (RMT): Delivers a 7.5% distribution rate, primarily through long-term capital gains, trading at a consistent discount to NAV [10][13] - Virtus Total Return Fund (ZTR): Features a 9.7% distribution rate, with a diversified portfolio of stocks and bonds, but has faced recent underperformance [14][18] - Calamos Global Dynamic Income Fund (CHW): Offers an 8.4% distribution rate, investing globally across various asset classes, currently trading at a 10.7% discount to NAV [19][21]