damonhowatt
Dryer sheet wannabe
- Joined
- Jul 14, 2015
- Messages
- 16
Good morning all. I've been researching dividend producing stocks and funds recently to use in my Roth IRA. I've seen one closed end fund that appears on the outside to be a good candidate: Gabelli GLU Global Utility and Income Trust. The fund currently has an annual yield of ~ 6.74% (it issues a dividend of $0.10 monthly). The price appreciation of the fund itself is very small but the dividend appears to be quite high. My initial thinking is to use this fund as part of a tax-free dividend producing strategy. Is this a good idea?
Please give me your thoughts and critique of this idea. Am I not seeing something here? I value the forum's member knowledge; you guys have been helpful in the past.
Thank you,
Steve
Please give me your thoughts and critique of this idea. Am I not seeing something here? I value the forum's member knowledge; you guys have been helpful in the past.
Thank you,
Steve