Running_Man
Thinks s/he gets paid by the post
- Joined
- Sep 25, 2006
- Messages
- 2,844
Adams Express (ADX) is one of the oldest CEF around, being around as an investment company since before the great crash of 1929. Presently there is a shareholder vote scheduled for Thursday where a hedge fund has gotten on the ballot a request to tender shares and convert possibly to an ETF, which if successful would immediately result in approximately 14% one time increase as the discount is eliminated.
I am guessing the management opinion is the vote is close as I have received 3 calls in the past 2 weeks requesting I vote with management early and over the phone. As a short term gamble for a potential 10-14% return with basically only market risk, it is an interesting play.
I am guessing the management opinion is the vote is close as I have received 3 calls in the past 2 weeks requesting I vote with management early and over the phone. As a short term gamble for a potential 10-14% return with basically only market risk, it is an interesting play.