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BUYING MORE IHIT. ANOTHER POLITICAL BOOK TO CONSIDER.

January 4, 2018

We suggested you review IHIT on December 27.  Just today we noticed an excellent review of IHIT by one of our favorite financial sites:  https://www.dividendinvestor.com/term-trust-closed-end-fund-added-portfolio/

(Their portfolios are publicly available.)  Pasted below is some content:  go to the link above for the full discussion.  We will be ADDING to our holding. 

While we are always skeptical of owning closed-end funds (CEFs), we do on occasion stumble upon one that fits our needs in almost all respects.

Meeting our needs means that the share price appears to have limited downside, the issue has a satisfactory current yield and the security has a relatively short duration to maturity. Very few CEFs can meet our needs in all these regards.

An issue that we have determined fits the above needs is the Invesco High Income 2023 Target Term Trust (NYSE: IHIT). Many of you may be familiar with Term Trusts, even though I very rarely find closed-end funds worth buying. However, the timing seems right to purchase this CEF. IHIT appears to be one of those rare issues that works even for conservative investors like us. It is helpful that most of the holdings in the trust are investment grade.

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We thought we were done with the political books.  But this new one, evidently very critical of Trump, is due out soon.

Fire and Fury: Inside the Trump White House, reportedly based on more than 200 interviews with the president, his inner circle and players in and around the administration, is one of the most eagerly awaited political books of the year. In it, Wolff lifts the lid on a White House lurching from crisis to crisis amid internecine warfare, with even some of Trump’s closest allies expressing contempt for him.

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