Leverage has been a profitable trade in the past and it has allowed many closed-end funds to deliver very compelling yields, but the risk is your total return could suffer. Leverage can cut both ways; it can magnify your gains but it can also accentuate your losses. ... On the flip side, if you are delving into these more unusual strategies, one could argue the closed-end format lends itself to them pretty well, because your manager is not having to redeem shares everyday.
-Christine Benz
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