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2021-08-01

Ok

Wall Street declines with Amazon; S&P 500 posts gains for month

2021-08-01

Pfizer-vaxxed!

5 Best Dividend Stocks to Buy in August

2021-08-01

[Smile]

It’s Open Season on Closed-End Fund Activists. How Fund Holders Can Win—and Lose

2021-07-13

[Miser]

SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.

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brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627675228,"share":"https://www.laohu8.com/m/news/2155001152?lang=&edition=full","pubTime":"2021-07-31 04:00","market":"us","language":"en","title":"Wall Street declines with Amazon; S&P 500 posts gains for month","url":"https://stock-news.laohu8.com/highlight/detail?id=2155001152","media":"Reuters","summary":"U.S. consumer spending rises in June, inflation increases . NEW YORK, July 30  - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.Shares of oth","content":"<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street declines with Amazon; S&P 500 posts gains for month</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street declines with Amazon; S&P 500 posts gains for month\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-31 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","COMP":"Compass, Inc.","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","AMZN":"亚马逊","OEX":"标普100","SH":"标普500反向ETF","SPY":"标普500ETF","SDS":"两倍做空标普500ETF","CAT":"卡特彼勒","SPXU":"三倍做空标普500ETF",".SPX":"S&P 500 Index","IVV":"标普500指数ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155001152","content_text":"Pinterest sinks on stalled U.S. user growth\nU.S. consumer spending rises in June, inflation increases (Updates to close)\n\nNEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.\nAmazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.\nShares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and Facebook Inc, were mostly lower.\n\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.\nData on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.\nUnofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.\nStrong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.\n\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.\nAlso on the earnings front, Pampers maker Procter & Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's Restaurant Brands International Inc jumped after the Burger King owner beat estimates for quarterly profit.\nPinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.\nCaterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.\nResults on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)","news_type":1},"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802865370,"gmtCreate":1627756937090,"gmtModify":1633756645862,"author":{"id":"3577961635989748","authorId":"3577961635989748","name":"Kiwitay","avatar":"https://static.tigerbbs.com/3937d9e7aba72d662ad7a71769c32a49","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577961635989748","authorIdStr":"3577961635989748"},"themes":[],"htmlText":"Pfizer-vaxxed!&nbsp;","listText":"Pfizer-vaxxed!&nbsp;","text":"Pfizer-vaxxed!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802865370","repostId":"1173075225","repostType":4,"repost":{"id":"1173075225","kind":"news","pubTimestamp":1627704977,"share":"https://www.laohu8.com/m/news/1173075225?lang=&edition=full","pubTime":"2021-07-31 12:16","market":"us","language":"en","title":"5 Best Dividend Stocks to Buy in August","url":"https://stock-news.laohu8.com/highlight/detail?id=1173075225","media":"US News","summary":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.That hints that gains could be tougher to score in the months ahea","content":"<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.</p>\n<p>That hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.</p>\n<p>If you're interested individend stocksright now, here are five that look particularly strong at the start of August:</p>\n<ul>\n <li>EPR Properties (ticker:EPR)</li>\n <li><a href=\"https://laohu8.com/S/NAVI\">Navient Corp</a>. (NAVI)</li>\n <li>Pfizer Inc. (PFE)</li>\n <li>Vedanta Ltd. (VEDL)</li>\n <li>Vistra Corp. (VST)</li>\n</ul>\n<p>[Sign up for stock news with our Invested newsletter.]</p>\n<p><b>EPR Properties (EPR)</b></p>\n<p><b>Dividend yield:</b>5.7%</p>\n<p>EPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.</p>\n<p><b>Navient Corp. (NAVI)</b></p>\n<p><b>Dividend yield:</b>3.2%</p>\n<p>Student loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&amp;P 500, even after that run.</p>\n<p><b>Pfizer Inc. (PFE)</b></p>\n<p><b>Dividend yield:</b>3.6%</p>\n<p>Big Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.</p>\n<p><b>Vedanta Ltd. (VEDL)</b></p>\n<p><b>Dividend yield:</b>5.1%</p>\n<p>Vedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.</p>\n<p><b>Vistra Corp. (VST)</b></p>\n<p><b>Dividend yield:</b>3.1%</p>\n<p>A Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.</p>","source":"lsy1627705648360","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Best Dividend Stocks to Buy in August</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Best Dividend Stocks to Buy in August\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-31 12:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html><strong>US News</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market ...</p>\n\n<a href=\"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VEDL":"Vedanta  Limited","VST":"Vistra Energy Corp.","EPR":"EPR不动产","PFE":"辉瑞","NAVI":"Navient Corp"},"source_url":"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173075225","content_text":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.\nThat hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.\nIf you're interested individend stocksright now, here are five that look particularly strong at the start of August:\n\nEPR Properties (ticker:EPR)\nNavient Corp. (NAVI)\nPfizer Inc. (PFE)\nVedanta Ltd. (VEDL)\nVistra Corp. (VST)\n\n[Sign up for stock news with our Invested newsletter.]\nEPR Properties (EPR)\nDividend yield:5.7%\nEPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.\nNavient Corp. (NAVI)\nDividend yield:3.2%\nStudent loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&P 500, even after that run.\nPfizer Inc. (PFE)\nDividend yield:3.6%\nBig Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains one of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.\nVedanta Ltd. (VEDL)\nDividend yield:5.1%\nVedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.\nVistra Corp. (VST)\nDividend yield:3.1%\nA Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.","news_type":1},"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802862726,"gmtCreate":1627756888265,"gmtModify":1633756646086,"author":{"id":"3577961635989748","authorId":"3577961635989748","name":"Kiwitay","avatar":"https://static.tigerbbs.com/3937d9e7aba72d662ad7a71769c32a49","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577961635989748","authorIdStr":"3577961635989748"},"themes":[],"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802862726","repostId":"1138566016","repostType":4,"repost":{"id":"1138566016","kind":"news","pubTimestamp":1627689251,"share":"https://www.laohu8.com/m/news/1138566016?lang=&edition=full","pubTime":"2021-07-31 07:54","market":"us","language":"en","title":"It’s Open Season on Closed-End Fund Activists. How Fund Holders Can Win—and Lose","url":"https://stock-news.laohu8.com/highlight/detail?id=1138566016","media":"Barron's","summary":"TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasensta","content":"<p>TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasenstab at the helm, the closed-end fund returned an average of 0.3% annually in the past decade, versus an average 7% for peers in global income. Also frustrating, its shares rarely traded close to the fund’s underlying net asset value, or NAV. The discount averaged 11% in the past three years.</p>\n<p>Investors have caught a break, however, thanks to Saba Capital Management, a hedge fund shop run by activist investor Boaz Weinstein. Saba amassed a 20% stake in the Templeton fund and recently won four contested board seats. It has been pressuring the board to take actions to boost the share price. Its moves have paid off: The fund has returned a total 4.5% this year as its share price improved, and the discount to NAV has shrunk to 4%.</p>\n<p>Tactics like Saba’s have long infuriated mutual fund companies; no one wants a hedge fund threatening a coup. Now, with some help from Congress, the playing field could tilt in favor of closed-end funds and their company sponsors, due to a bill recently introduced in the House. That could work against the interests of fund investors.</p>\n<p>The Increasing Investor Opportunities Act, introduced in June by Rep. Anthony Gonzalez (R., Ohio) and Rep. Gregory Meeks (D., New York), includes two measures that could make it much tougher for hedge funds to pressure closed-end funds and win proxy fights. One proposed change would lift the current 15% limit on closed-end-fund ownership of illiquid private funds, such as venture-capital and private-equity funds. A second measure would prevent activist hedge funds from acquiring more than 10% of a closed-end fund’s shares.</p>\n<p>A spokesman for Gonzalez declined to comment. Meeks didn’t respond to requests for comment.</p>\n<p>Proponents of the changes say they would expand access to private markets for retail investors. They also say hedge funds are exploiting gaps in securities laws at a cost to long-term shareholders, saddling them with tax liabilities, higher fees, and forced fund liquidations. The bill would eliminate a “loophole that activist investors have used to extract short-term profits at the expense of retail investors,” the Investment Company Institute, or ICI, said in a recent statement.</p>\n<p>Hedge funds and portfolio managers who invest in closed-end funds say that mutual fund companies are simply trying to protect a pool of assets and fees from shareholder interference. Most retail investors don’t vote their shares in proxy contests. That may leave fund boards largely free to pursue their own agendas.</p>\n<p>“Activism plays an important role, and if this bill passes, it will become more difficult for activists to threaten or create changes,” says Matt Buffington, a portfolio manager at Dryden Capital, an activist hedge fund.</p>\n<p>Gregory Neer, a portfolio manager with Relative Value Partners, an advisory firm that invests in closed-end funds, agrees. “The ability for investors to pressure funds is beneficial to all shareholders,” he says.</p>\n<p>Closed-end funds have long been popular with investors due to their high yields and steady distributions. Many use leverage, borrowing money at market rates to boost payouts. They also generate income with options strategies and investments in high-yielding areas of the stock and bond markets.</p>\n<p>But the funds have structural drawbacks. Expense ratios are steep, averaging 2.1%, according to Morningstar Direct. And since the funds have a fixed number of shares outstanding, prices reflect market demand for both a fund and its underlying assets. Funds usually trade at a discount to NAV. While it is attractive, in theory, to pay 90 cents for a dollar of assets, investors might never see the extra dime.</p>\n<p>Hedge funds aim to exploit this inefficiency, buying closed-end funds at below-market value. They then pressure fund boards to take steps to lift the funds’ prices. The playbook is straightforward: accumulate a stake, win board seats, and then force a fund company into a tender offer, whereby it agrees to repurchase shares at nearly full price.</p>\n<p>If that fails, a hedge fund might try to replace a fund’s manager, orchestrate a liquidation of the fund, or get it converted to an open-end fund—moves that could also pay off with the share price rising to parity with the NAV. Firms like Saba have also taken over funds entirely.</p>\n<p>Giving closed-end funds freedom to own more private securities could throw a wrench into the strategy. Tender offers work only if a fund can liquidate most of its holdings at market prices. Because venture-capital and private-equity holdings generally don’t trade publicly, their pricing isn’t transparent. “When closed-end funds invest in illiquid things, it protects them from activism,” one activist manager tells<i>Barron’s</i>.</p>\n<p>Removing the cap on private-fund ownership is “in line with a legislative agenda of getting retail investors more access to private investments,” says Thomas DeCapo, an attorney for the mutual fund industry.</p>\n<p>And capping activists at 10% of a fund doesn’t stop them from mounting proxy campaigns. “Nothing about this is antidemocratic,” he says. “It doesn’t stop a majority of investors who are unhappy or want change. It stops one investor from using its economic power, with other people’s money, to basically force changes on everybody else.”</p>\n<p>Investor advocates see it differently, however, saying fund investors could wind up paying higher fees for funds that hold more-opaque investments. “It’s just another fund-of-funds structure, and those are notoriously high-fee,” says Tyler Gellasch, head of Healthy Markets, an investor-protection group.</p>\n<p>Individual hedge funds technically can’t own more than 3% of a closed-end fund, under ownership restrictions in the Investment Company Act of 1940. But they skirt the rule by building stakes through affiliated entities, creating enough of a critical mass to force changes at a fund through proxy voting.</p>\n<p>The ICI—the mutual fund industry’s lobby—has tried to persuade regulators to crack down on hedge funds. In a submission to the Securities and Exchange Commission last year, the ICI argued that hedge fund campaigns often consume a fund’s resources, trigger tax liabilities for long-term investors, and result in the forced selling of securities to meet a hedge fund’s demands for a tender offer. A fund’s expense ratio could increase if it is forced to buy back shares and its asset base shrinks.</p>\n<p>The activist community’s “assault” on the industry has had a chilling effect on product launches, the ICI said, resulting in fewer closed-end funds on the market today than in 2007.</p>\n<p>But hedge funds argue that changing the 1940 act would amount to a power grab by mutual funds. “This is all coming from the mutual fund industry, and it’s no coincidence that this protects them,” says Phil Goldstein, co-founder of Bulldog Investors, an activist that has long targeted closed-end funds. “There are funds with terrible performance and wide discounts. The ICI never says we need a mechanism where shareholders can hold those managers accountable.”</p>\n<p>Imposing an ownership cap would also make proxy campaigns less economic. Limited to 10%, hedge funds wouldn’t own enough shares, with sufficient economic interest, to justify the expense of a proxy contest, which can cost millions of dollars. “If you’re limited to 10% and have to spend 2.5% of your assets on a proxy campaign, you’d say it’s too risky,” says Goldstein. “Meanwhile, management isn’t spending anything—just shareholder money. They want to make it economically unattractive to run a proxy contest.”</p>\n<p>Regulators and courts have expressed skepticism about some defenses that closed-end funds have adopted to prevent shareholder challenges. And, the SEC might not side with the fund industry. Since 2010, the SEC has warned fund companies against using state securities laws to thwart hedge fund takeovers. The SEC dropped its objection to these state “control share” laws last year under its Republican chairman, Jay Clayton. But the new, Democratic chairman, Gary Gensler, might reinstate the SEC’s objection—a reason for the industry to enlist Congress to change the law. The SEC didn’t respond to requests for comment.</p>\n<p>Institutional Shareholder Services,a firm that makes recommendations on proxy voting, says investors should reject fund companies’ use of state control-share laws, which limit the voting rights of shareholders. With the SEC on the sidelines, ISS says, “CEF shareholders are denied important voting rights and are subject to management entrenchment.”</p>\n<p><img src=\"https://static.tigerbbs.com/70323ed9daef142f19afd48be72b6299\" tg-width=\"755\" tg-height=\"334\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/68beb47d59eb02e90b04eb7093f9f17b\" tg-width=\"759\" tg-height=\"285\" referrerpolicy=\"no-referrer\">Hedge funds don’t always win, but investors might want to ride along as activists build a stake. “When an activist comes in, you usually see an increase in the share price and a decrease in the discount,” says Matt Souther, an associate finance professor at the University of South Carolina.</p>\n<p>Templeton Global Income’s (ticker: GIM) discount to NAV could narrow further if Saba acquires more shares or tries to take over the fund’s $743 million in assets. Saba recently took over management of another fund, Voya Prime Rate Trust, which it rebrandedSaba Capital Income &amp; Opportunities(BRW).Franklin Templetonand Saba declined to comment.</p>\n<p>Miller/Howard High Income Equity(HIE) is also in Saba’s crosshairs. The fund is a “term trust” with a mandated liquidation date in 2024. It trades at a 5.9% discount to NAV. “In a worst-case scenario, you buy it at a discount and you’ll earn an excess return from now to 2024 because that discount will narrow,” says Patrick Galley, co-manager ofRiverNorth Opportunities(RIV), a closed-end fund that owns HIE.</p>\n<p>Other closed-end funds in which Saba owns stakes includeSource Capital(SOR) andInvesco Dynamic Credit Opportunities(VTA). Bulldog has built a position inTortoise Energy Independence(NDP).</p>\n<p>Some closed-end funds look attractive on their fundamentals.Adams Diversified Equity(ADX) offers exposure to big tech stocks, trades at a 14% discount to NAV, and is committed to an annualized distribution of at least 6%. “For investors who expect tech to do well, ADX is a good holding,” says David Tepper, a closed-end investor and head of Tepper Capital Management in San Francisco.</p>\n<p>Sprott Focus Trust(FUND) is another fund he likes. Veteran small-cap manager Whitney George runs it, and his family owns 45% of the shares. It trades at a 10% discount and yields 5.7%. Tepper also favorsRoyce Global Value Trust(RGT), trading at a 9% discount and yielding 7.9%.</p>\n<p>None of these funds has attracted much activist involvement, according to securities filings. But if activists see opportunity, they could pile in and pressure fund management—assuming that Congress doesn’t rewrite the rules of engagement.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s Open Season on Closed-End Fund Activists. How Fund Holders Can Win—and Lose</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s Open Season on Closed-End Fund Activists. How Fund Holders Can Win—and Lose\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-31 07:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/congress-closed-end-funds-legislation-51627657959?mod=newsviewer_click><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasenstab at the helm, the closed-end fund returned an average of 0.3% annually in the past decade, versus ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/congress-closed-end-funds-legislation-51627657959?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/articles/congress-closed-end-funds-legislation-51627657959?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138566016","content_text":"TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasenstab at the helm, the closed-end fund returned an average of 0.3% annually in the past decade, versus an average 7% for peers in global income. Also frustrating, its shares rarely traded close to the fund’s underlying net asset value, or NAV. The discount averaged 11% in the past three years.\nInvestors have caught a break, however, thanks to Saba Capital Management, a hedge fund shop run by activist investor Boaz Weinstein. Saba amassed a 20% stake in the Templeton fund and recently won four contested board seats. It has been pressuring the board to take actions to boost the share price. Its moves have paid off: The fund has returned a total 4.5% this year as its share price improved, and the discount to NAV has shrunk to 4%.\nTactics like Saba’s have long infuriated mutual fund companies; no one wants a hedge fund threatening a coup. Now, with some help from Congress, the playing field could tilt in favor of closed-end funds and their company sponsors, due to a bill recently introduced in the House. That could work against the interests of fund investors.\nThe Increasing Investor Opportunities Act, introduced in June by Rep. Anthony Gonzalez (R., Ohio) and Rep. Gregory Meeks (D., New York), includes two measures that could make it much tougher for hedge funds to pressure closed-end funds and win proxy fights. One proposed change would lift the current 15% limit on closed-end-fund ownership of illiquid private funds, such as venture-capital and private-equity funds. A second measure would prevent activist hedge funds from acquiring more than 10% of a closed-end fund’s shares.\nA spokesman for Gonzalez declined to comment. Meeks didn’t respond to requests for comment.\nProponents of the changes say they would expand access to private markets for retail investors. They also say hedge funds are exploiting gaps in securities laws at a cost to long-term shareholders, saddling them with tax liabilities, higher fees, and forced fund liquidations. The bill would eliminate a “loophole that activist investors have used to extract short-term profits at the expense of retail investors,” the Investment Company Institute, or ICI, said in a recent statement.\nHedge funds and portfolio managers who invest in closed-end funds say that mutual fund companies are simply trying to protect a pool of assets and fees from shareholder interference. Most retail investors don’t vote their shares in proxy contests. That may leave fund boards largely free to pursue their own agendas.\n“Activism plays an important role, and if this bill passes, it will become more difficult for activists to threaten or create changes,” says Matt Buffington, a portfolio manager at Dryden Capital, an activist hedge fund.\nGregory Neer, a portfolio manager with Relative Value Partners, an advisory firm that invests in closed-end funds, agrees. “The ability for investors to pressure funds is beneficial to all shareholders,” he says.\nClosed-end funds have long been popular with investors due to their high yields and steady distributions. Many use leverage, borrowing money at market rates to boost payouts. They also generate income with options strategies and investments in high-yielding areas of the stock and bond markets.\nBut the funds have structural drawbacks. Expense ratios are steep, averaging 2.1%, according to Morningstar Direct. And since the funds have a fixed number of shares outstanding, prices reflect market demand for both a fund and its underlying assets. Funds usually trade at a discount to NAV. While it is attractive, in theory, to pay 90 cents for a dollar of assets, investors might never see the extra dime.\nHedge funds aim to exploit this inefficiency, buying closed-end funds at below-market value. They then pressure fund boards to take steps to lift the funds’ prices. The playbook is straightforward: accumulate a stake, win board seats, and then force a fund company into a tender offer, whereby it agrees to repurchase shares at nearly full price.\nIf that fails, a hedge fund might try to replace a fund’s manager, orchestrate a liquidation of the fund, or get it converted to an open-end fund—moves that could also pay off with the share price rising to parity with the NAV. Firms like Saba have also taken over funds entirely.\nGiving closed-end funds freedom to own more private securities could throw a wrench into the strategy. Tender offers work only if a fund can liquidate most of its holdings at market prices. Because venture-capital and private-equity holdings generally don’t trade publicly, their pricing isn’t transparent. “When closed-end funds invest in illiquid things, it protects them from activism,” one activist manager tellsBarron’s.\nRemoving the cap on private-fund ownership is “in line with a legislative agenda of getting retail investors more access to private investments,” says Thomas DeCapo, an attorney for the mutual fund industry.\nAnd capping activists at 10% of a fund doesn’t stop them from mounting proxy campaigns. “Nothing about this is antidemocratic,” he says. “It doesn’t stop a majority of investors who are unhappy or want change. It stops one investor from using its economic power, with other people’s money, to basically force changes on everybody else.”\nInvestor advocates see it differently, however, saying fund investors could wind up paying higher fees for funds that hold more-opaque investments. “It’s just another fund-of-funds structure, and those are notoriously high-fee,” says Tyler Gellasch, head of Healthy Markets, an investor-protection group.\nIndividual hedge funds technically can’t own more than 3% of a closed-end fund, under ownership restrictions in the Investment Company Act of 1940. But they skirt the rule by building stakes through affiliated entities, creating enough of a critical mass to force changes at a fund through proxy voting.\nThe ICI—the mutual fund industry’s lobby—has tried to persuade regulators to crack down on hedge funds. In a submission to the Securities and Exchange Commission last year, the ICI argued that hedge fund campaigns often consume a fund’s resources, trigger tax liabilities for long-term investors, and result in the forced selling of securities to meet a hedge fund’s demands for a tender offer. A fund’s expense ratio could increase if it is forced to buy back shares and its asset base shrinks.\nThe activist community’s “assault” on the industry has had a chilling effect on product launches, the ICI said, resulting in fewer closed-end funds on the market today than in 2007.\nBut hedge funds argue that changing the 1940 act would amount to a power grab by mutual funds. “This is all coming from the mutual fund industry, and it’s no coincidence that this protects them,” says Phil Goldstein, co-founder of Bulldog Investors, an activist that has long targeted closed-end funds. “There are funds with terrible performance and wide discounts. The ICI never says we need a mechanism where shareholders can hold those managers accountable.”\nImposing an ownership cap would also make proxy campaigns less economic. Limited to 10%, hedge funds wouldn’t own enough shares, with sufficient economic interest, to justify the expense of a proxy contest, which can cost millions of dollars. “If you’re limited to 10% and have to spend 2.5% of your assets on a proxy campaign, you’d say it’s too risky,” says Goldstein. “Meanwhile, management isn’t spending anything—just shareholder money. They want to make it economically unattractive to run a proxy contest.”\nRegulators and courts have expressed skepticism about some defenses that closed-end funds have adopted to prevent shareholder challenges. And, the SEC might not side with the fund industry. Since 2010, the SEC has warned fund companies against using state securities laws to thwart hedge fund takeovers. The SEC dropped its objection to these state “control share” laws last year under its Republican chairman, Jay Clayton. But the new, Democratic chairman, Gary Gensler, might reinstate the SEC’s objection—a reason for the industry to enlist Congress to change the law. The SEC didn’t respond to requests for comment.\nInstitutional Shareholder Services,a firm that makes recommendations on proxy voting, says investors should reject fund companies’ use of state control-share laws, which limit the voting rights of shareholders. With the SEC on the sidelines, ISS says, “CEF shareholders are denied important voting rights and are subject to management entrenchment.”\nHedge funds don’t always win, but investors might want to ride along as activists build a stake. “When an activist comes in, you usually see an increase in the share price and a decrease in the discount,” says Matt Souther, an associate finance professor at the University of South Carolina.\nTempleton Global Income’s (ticker: GIM) discount to NAV could narrow further if Saba acquires more shares or tries to take over the fund’s $743 million in assets. Saba recently took over management of another fund, Voya Prime Rate Trust, which it rebrandedSaba Capital Income & Opportunities(BRW).Franklin Templetonand Saba declined to comment.\nMiller/Howard High Income Equity(HIE) is also in Saba’s crosshairs. The fund is a “term trust” with a mandated liquidation date in 2024. It trades at a 5.9% discount to NAV. “In a worst-case scenario, you buy it at a discount and you’ll earn an excess return from now to 2024 because that discount will narrow,” says Patrick Galley, co-manager ofRiverNorth Opportunities(RIV), a closed-end fund that owns HIE.\nOther closed-end funds in which Saba owns stakes includeSource Capital(SOR) andInvesco Dynamic Credit Opportunities(VTA). Bulldog has built a position inTortoise Energy Independence(NDP).\nSome closed-end funds look attractive on their fundamentals.Adams Diversified Equity(ADX) offers exposure to big tech stocks, trades at a 14% discount to NAV, and is committed to an annualized distribution of at least 6%. “For investors who expect tech to do well, ADX is a good holding,” says David Tepper, a closed-end investor and head of Tepper Capital Management in San Francisco.\nSprott Focus Trust(FUND) is another fund he likes. Veteran small-cap manager Whitney George runs it, and his family owns 45% of the shares. It trades at a 10% discount and yields 5.7%. Tepper also favorsRoyce Global Value Trust(RGT), trading at a 9% discount and yielding 7.9%.\nNone of these funds has attracted much activist involvement, according to securities filings. But if activists see opportunity, they could pile in and pressure fund management—assuming that Congress doesn’t rewrite the rules of engagement.","news_type":1},"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145900730,"gmtCreate":1626184882920,"gmtModify":1633929285361,"author":{"id":"3577961635989748","authorId":"3577961635989748","name":"Kiwitay","avatar":"https://static.tigerbbs.com/3937d9e7aba72d662ad7a71769c32a49","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577961635989748","authorIdStr":"3577961635989748"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145900730","repostId":"1142482969","repostType":4,"repost":{"id":"1142482969","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626183653,"share":"https://www.laohu8.com/m/news/1142482969?lang=&edition=full","pubTime":"2021-07-13 21:40","market":"us","language":"en","title":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.","url":"https://stock-news.laohu8.com/highlight/detail?id=1142482969","media":"Tiger Newspress","summary":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition","content":"<p>SOHU&nbsp;shares&nbsp;surges&nbsp;20%&nbsp;in&nbsp;early&nbsp;trading,as&nbsp;official approval for a Tencent Holdings Ltd. acquisition.</p>\n<p><img src=\"https://static.tigerbbs.com/c4b85f8ad31933441326d9abac73484b\" tg-width=\"1270\" tg-height=\"600\" referrerpolicy=\"no-referrer\">Tencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-13 21:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SOHU&nbsp;shares&nbsp;surges&nbsp;20%&nbsp;in&nbsp;early&nbsp;trading,as&nbsp;official approval for a Tencent Holdings Ltd. acquisition.</p>\n<p><img src=\"https://static.tigerbbs.com/c4b85f8ad31933441326d9abac73484b\" tg-width=\"1270\" tg-height=\"600\" referrerpolicy=\"no-referrer\">Tencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOHU":"搜狐","00700":"腾讯控股","SOGO":"搜狗"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142482969","content_text":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.\nTencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":784,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":802865116,"gmtCreate":1627757100035,"gmtModify":1633756645741,"author":{"id":"3577961635989748","authorId":"3577961635989748","name":"Kiwitay","avatar":"https://static.tigerbbs.com/3937d9e7aba72d662ad7a71769c32a49","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577961635989748","authorIdStr":"3577961635989748"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802865116","repostId":"2155001152","repostType":4,"repost":{"id":"2155001152","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627675228,"share":"https://www.laohu8.com/m/news/2155001152?lang=&edition=full","pubTime":"2021-07-31 04:00","market":"us","language":"en","title":"Wall Street declines with Amazon; S&P 500 posts gains for month","url":"https://stock-news.laohu8.com/highlight/detail?id=2155001152","media":"Reuters","summary":"U.S. consumer spending rises in June, inflation increases . NEW YORK, July 30  - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.Shares of oth","content":"<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street declines with Amazon; S&P 500 posts gains for month</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street declines with Amazon; S&P 500 posts gains for month\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-31 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","COMP":"Compass, Inc.","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","AMZN":"亚马逊","OEX":"标普100","SH":"标普500反向ETF","SPY":"标普500ETF","SDS":"两倍做空标普500ETF","CAT":"卡特彼勒","SPXU":"三倍做空标普500ETF",".SPX":"S&P 500 Index","IVV":"标普500指数ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155001152","content_text":"Pinterest sinks on stalled U.S. user growth\nU.S. consumer spending rises in June, inflation increases (Updates to close)\n\nNEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.\nAmazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.\nShares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and Facebook Inc, were mostly lower.\n\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.\nData on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.\nUnofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.\nStrong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.\n\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.\nAlso on the earnings front, Pampers maker Procter & Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's Restaurant Brands International Inc jumped after the Burger King owner beat estimates for quarterly profit.\nPinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.\nCaterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.\nResults on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)","news_type":1},"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802862726,"gmtCreate":1627756888265,"gmtModify":1633756646086,"author":{"id":"3577961635989748","authorId":"3577961635989748","name":"Kiwitay","avatar":"https://static.tigerbbs.com/3937d9e7aba72d662ad7a71769c32a49","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577961635989748","authorIdStr":"3577961635989748"},"themes":[],"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802862726","repostId":"1138566016","repostType":4,"repost":{"id":"1138566016","kind":"news","pubTimestamp":1627689251,"share":"https://www.laohu8.com/m/news/1138566016?lang=&edition=full","pubTime":"2021-07-31 07:54","market":"us","language":"en","title":"It’s Open Season on Closed-End Fund Activists. How Fund Holders Can Win—and Lose","url":"https://stock-news.laohu8.com/highlight/detail?id=1138566016","media":"Barron's","summary":"TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasensta","content":"<p>TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasenstab at the helm, the closed-end fund returned an average of 0.3% annually in the past decade, versus an average 7% for peers in global income. Also frustrating, its shares rarely traded close to the fund’s underlying net asset value, or NAV. The discount averaged 11% in the past three years.</p>\n<p>Investors have caught a break, however, thanks to Saba Capital Management, a hedge fund shop run by activist investor Boaz Weinstein. Saba amassed a 20% stake in the Templeton fund and recently won four contested board seats. It has been pressuring the board to take actions to boost the share price. Its moves have paid off: The fund has returned a total 4.5% this year as its share price improved, and the discount to NAV has shrunk to 4%.</p>\n<p>Tactics like Saba’s have long infuriated mutual fund companies; no one wants a hedge fund threatening a coup. Now, with some help from Congress, the playing field could tilt in favor of closed-end funds and their company sponsors, due to a bill recently introduced in the House. That could work against the interests of fund investors.</p>\n<p>The Increasing Investor Opportunities Act, introduced in June by Rep. Anthony Gonzalez (R., Ohio) and Rep. Gregory Meeks (D., New York), includes two measures that could make it much tougher for hedge funds to pressure closed-end funds and win proxy fights. One proposed change would lift the current 15% limit on closed-end-fund ownership of illiquid private funds, such as venture-capital and private-equity funds. A second measure would prevent activist hedge funds from acquiring more than 10% of a closed-end fund’s shares.</p>\n<p>A spokesman for Gonzalez declined to comment. Meeks didn’t respond to requests for comment.</p>\n<p>Proponents of the changes say they would expand access to private markets for retail investors. They also say hedge funds are exploiting gaps in securities laws at a cost to long-term shareholders, saddling them with tax liabilities, higher fees, and forced fund liquidations. The bill would eliminate a “loophole that activist investors have used to extract short-term profits at the expense of retail investors,” the Investment Company Institute, or ICI, said in a recent statement.</p>\n<p>Hedge funds and portfolio managers who invest in closed-end funds say that mutual fund companies are simply trying to protect a pool of assets and fees from shareholder interference. Most retail investors don’t vote their shares in proxy contests. That may leave fund boards largely free to pursue their own agendas.</p>\n<p>“Activism plays an important role, and if this bill passes, it will become more difficult for activists to threaten or create changes,” says Matt Buffington, a portfolio manager at Dryden Capital, an activist hedge fund.</p>\n<p>Gregory Neer, a portfolio manager with Relative Value Partners, an advisory firm that invests in closed-end funds, agrees. “The ability for investors to pressure funds is beneficial to all shareholders,” he says.</p>\n<p>Closed-end funds have long been popular with investors due to their high yields and steady distributions. Many use leverage, borrowing money at market rates to boost payouts. They also generate income with options strategies and investments in high-yielding areas of the stock and bond markets.</p>\n<p>But the funds have structural drawbacks. Expense ratios are steep, averaging 2.1%, according to Morningstar Direct. And since the funds have a fixed number of shares outstanding, prices reflect market demand for both a fund and its underlying assets. Funds usually trade at a discount to NAV. While it is attractive, in theory, to pay 90 cents for a dollar of assets, investors might never see the extra dime.</p>\n<p>Hedge funds aim to exploit this inefficiency, buying closed-end funds at below-market value. They then pressure fund boards to take steps to lift the funds’ prices. The playbook is straightforward: accumulate a stake, win board seats, and then force a fund company into a tender offer, whereby it agrees to repurchase shares at nearly full price.</p>\n<p>If that fails, a hedge fund might try to replace a fund’s manager, orchestrate a liquidation of the fund, or get it converted to an open-end fund—moves that could also pay off with the share price rising to parity with the NAV. Firms like Saba have also taken over funds entirely.</p>\n<p>Giving closed-end funds freedom to own more private securities could throw a wrench into the strategy. Tender offers work only if a fund can liquidate most of its holdings at market prices. Because venture-capital and private-equity holdings generally don’t trade publicly, their pricing isn’t transparent. “When closed-end funds invest in illiquid things, it protects them from activism,” one activist manager tells<i>Barron’s</i>.</p>\n<p>Removing the cap on private-fund ownership is “in line with a legislative agenda of getting retail investors more access to private investments,” says Thomas DeCapo, an attorney for the mutual fund industry.</p>\n<p>And capping activists at 10% of a fund doesn’t stop them from mounting proxy campaigns. “Nothing about this is antidemocratic,” he says. “It doesn’t stop a majority of investors who are unhappy or want change. It stops one investor from using its economic power, with other people’s money, to basically force changes on everybody else.”</p>\n<p>Investor advocates see it differently, however, saying fund investors could wind up paying higher fees for funds that hold more-opaque investments. “It’s just another fund-of-funds structure, and those are notoriously high-fee,” says Tyler Gellasch, head of Healthy Markets, an investor-protection group.</p>\n<p>Individual hedge funds technically can’t own more than 3% of a closed-end fund, under ownership restrictions in the Investment Company Act of 1940. But they skirt the rule by building stakes through affiliated entities, creating enough of a critical mass to force changes at a fund through proxy voting.</p>\n<p>The ICI—the mutual fund industry’s lobby—has tried to persuade regulators to crack down on hedge funds. In a submission to the Securities and Exchange Commission last year, the ICI argued that hedge fund campaigns often consume a fund’s resources, trigger tax liabilities for long-term investors, and result in the forced selling of securities to meet a hedge fund’s demands for a tender offer. A fund’s expense ratio could increase if it is forced to buy back shares and its asset base shrinks.</p>\n<p>The activist community’s “assault” on the industry has had a chilling effect on product launches, the ICI said, resulting in fewer closed-end funds on the market today than in 2007.</p>\n<p>But hedge funds argue that changing the 1940 act would amount to a power grab by mutual funds. “This is all coming from the mutual fund industry, and it’s no coincidence that this protects them,” says Phil Goldstein, co-founder of Bulldog Investors, an activist that has long targeted closed-end funds. “There are funds with terrible performance and wide discounts. The ICI never says we need a mechanism where shareholders can hold those managers accountable.”</p>\n<p>Imposing an ownership cap would also make proxy campaigns less economic. Limited to 10%, hedge funds wouldn’t own enough shares, with sufficient economic interest, to justify the expense of a proxy contest, which can cost millions of dollars. “If you’re limited to 10% and have to spend 2.5% of your assets on a proxy campaign, you’d say it’s too risky,” says Goldstein. “Meanwhile, management isn’t spending anything—just shareholder money. They want to make it economically unattractive to run a proxy contest.”</p>\n<p>Regulators and courts have expressed skepticism about some defenses that closed-end funds have adopted to prevent shareholder challenges. And, the SEC might not side with the fund industry. Since 2010, the SEC has warned fund companies against using state securities laws to thwart hedge fund takeovers. The SEC dropped its objection to these state “control share” laws last year under its Republican chairman, Jay Clayton. But the new, Democratic chairman, Gary Gensler, might reinstate the SEC’s objection—a reason for the industry to enlist Congress to change the law. The SEC didn’t respond to requests for comment.</p>\n<p>Institutional Shareholder Services,a firm that makes recommendations on proxy voting, says investors should reject fund companies’ use of state control-share laws, which limit the voting rights of shareholders. With the SEC on the sidelines, ISS says, “CEF shareholders are denied important voting rights and are subject to management entrenchment.”</p>\n<p><img src=\"https://static.tigerbbs.com/70323ed9daef142f19afd48be72b6299\" tg-width=\"755\" tg-height=\"334\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/68beb47d59eb02e90b04eb7093f9f17b\" tg-width=\"759\" tg-height=\"285\" referrerpolicy=\"no-referrer\">Hedge funds don’t always win, but investors might want to ride along as activists build a stake. “When an activist comes in, you usually see an increase in the share price and a decrease in the discount,” says Matt Souther, an associate finance professor at the University of South Carolina.</p>\n<p>Templeton Global Income’s (ticker: GIM) discount to NAV could narrow further if Saba acquires more shares or tries to take over the fund’s $743 million in assets. Saba recently took over management of another fund, Voya Prime Rate Trust, which it rebrandedSaba Capital Income &amp; Opportunities(BRW).Franklin Templetonand Saba declined to comment.</p>\n<p>Miller/Howard High Income Equity(HIE) is also in Saba’s crosshairs. The fund is a “term trust” with a mandated liquidation date in 2024. It trades at a 5.9% discount to NAV. “In a worst-case scenario, you buy it at a discount and you’ll earn an excess return from now to 2024 because that discount will narrow,” says Patrick Galley, co-manager ofRiverNorth Opportunities(RIV), a closed-end fund that owns HIE.</p>\n<p>Other closed-end funds in which Saba owns stakes includeSource Capital(SOR) andInvesco Dynamic Credit Opportunities(VTA). Bulldog has built a position inTortoise Energy Independence(NDP).</p>\n<p>Some closed-end funds look attractive on their fundamentals.Adams Diversified Equity(ADX) offers exposure to big tech stocks, trades at a 14% discount to NAV, and is committed to an annualized distribution of at least 6%. “For investors who expect tech to do well, ADX is a good holding,” says David Tepper, a closed-end investor and head of Tepper Capital Management in San Francisco.</p>\n<p>Sprott Focus Trust(FUND) is another fund he likes. Veteran small-cap manager Whitney George runs it, and his family owns 45% of the shares. It trades at a 10% discount and yields 5.7%. Tepper also favorsRoyce Global Value Trust(RGT), trading at a 9% discount and yielding 7.9%.</p>\n<p>None of these funds has attracted much activist involvement, according to securities filings. But if activists see opportunity, they could pile in and pressure fund management—assuming that Congress doesn’t rewrite the rules of engagement.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s Open Season on Closed-End Fund Activists. How Fund Holders Can Win—and Lose</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s Open Season on Closed-End Fund Activists. How Fund Holders Can Win—and Lose\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-31 07:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/congress-closed-end-funds-legislation-51627657959?mod=newsviewer_click><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasenstab at the helm, the closed-end fund returned an average of 0.3% annually in the past decade, versus ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/congress-closed-end-funds-legislation-51627657959?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/articles/congress-closed-end-funds-legislation-51627657959?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138566016","content_text":"TheTempleton Global Incomefund frustrated investors for years. Despite star manager Michael Hasenstab at the helm, the closed-end fund returned an average of 0.3% annually in the past decade, versus an average 7% for peers in global income. Also frustrating, its shares rarely traded close to the fund’s underlying net asset value, or NAV. The discount averaged 11% in the past three years.\nInvestors have caught a break, however, thanks to Saba Capital Management, a hedge fund shop run by activist investor Boaz Weinstein. Saba amassed a 20% stake in the Templeton fund and recently won four contested board seats. It has been pressuring the board to take actions to boost the share price. Its moves have paid off: The fund has returned a total 4.5% this year as its share price improved, and the discount to NAV has shrunk to 4%.\nTactics like Saba’s have long infuriated mutual fund companies; no one wants a hedge fund threatening a coup. Now, with some help from Congress, the playing field could tilt in favor of closed-end funds and their company sponsors, due to a bill recently introduced in the House. That could work against the interests of fund investors.\nThe Increasing Investor Opportunities Act, introduced in June by Rep. Anthony Gonzalez (R., Ohio) and Rep. Gregory Meeks (D., New York), includes two measures that could make it much tougher for hedge funds to pressure closed-end funds and win proxy fights. One proposed change would lift the current 15% limit on closed-end-fund ownership of illiquid private funds, such as venture-capital and private-equity funds. A second measure would prevent activist hedge funds from acquiring more than 10% of a closed-end fund’s shares.\nA spokesman for Gonzalez declined to comment. Meeks didn’t respond to requests for comment.\nProponents of the changes say they would expand access to private markets for retail investors. They also say hedge funds are exploiting gaps in securities laws at a cost to long-term shareholders, saddling them with tax liabilities, higher fees, and forced fund liquidations. The bill would eliminate a “loophole that activist investors have used to extract short-term profits at the expense of retail investors,” the Investment Company Institute, or ICI, said in a recent statement.\nHedge funds and portfolio managers who invest in closed-end funds say that mutual fund companies are simply trying to protect a pool of assets and fees from shareholder interference. Most retail investors don’t vote their shares in proxy contests. That may leave fund boards largely free to pursue their own agendas.\n“Activism plays an important role, and if this bill passes, it will become more difficult for activists to threaten or create changes,” says Matt Buffington, a portfolio manager at Dryden Capital, an activist hedge fund.\nGregory Neer, a portfolio manager with Relative Value Partners, an advisory firm that invests in closed-end funds, agrees. “The ability for investors to pressure funds is beneficial to all shareholders,” he says.\nClosed-end funds have long been popular with investors due to their high yields and steady distributions. Many use leverage, borrowing money at market rates to boost payouts. They also generate income with options strategies and investments in high-yielding areas of the stock and bond markets.\nBut the funds have structural drawbacks. Expense ratios are steep, averaging 2.1%, according to Morningstar Direct. And since the funds have a fixed number of shares outstanding, prices reflect market demand for both a fund and its underlying assets. Funds usually trade at a discount to NAV. While it is attractive, in theory, to pay 90 cents for a dollar of assets, investors might never see the extra dime.\nHedge funds aim to exploit this inefficiency, buying closed-end funds at below-market value. They then pressure fund boards to take steps to lift the funds’ prices. The playbook is straightforward: accumulate a stake, win board seats, and then force a fund company into a tender offer, whereby it agrees to repurchase shares at nearly full price.\nIf that fails, a hedge fund might try to replace a fund’s manager, orchestrate a liquidation of the fund, or get it converted to an open-end fund—moves that could also pay off with the share price rising to parity with the NAV. Firms like Saba have also taken over funds entirely.\nGiving closed-end funds freedom to own more private securities could throw a wrench into the strategy. Tender offers work only if a fund can liquidate most of its holdings at market prices. Because venture-capital and private-equity holdings generally don’t trade publicly, their pricing isn’t transparent. “When closed-end funds invest in illiquid things, it protects them from activism,” one activist manager tellsBarron’s.\nRemoving the cap on private-fund ownership is “in line with a legislative agenda of getting retail investors more access to private investments,” says Thomas DeCapo, an attorney for the mutual fund industry.\nAnd capping activists at 10% of a fund doesn’t stop them from mounting proxy campaigns. “Nothing about this is antidemocratic,” he says. “It doesn’t stop a majority of investors who are unhappy or want change. It stops one investor from using its economic power, with other people’s money, to basically force changes on everybody else.”\nInvestor advocates see it differently, however, saying fund investors could wind up paying higher fees for funds that hold more-opaque investments. “It’s just another fund-of-funds structure, and those are notoriously high-fee,” says Tyler Gellasch, head of Healthy Markets, an investor-protection group.\nIndividual hedge funds technically can’t own more than 3% of a closed-end fund, under ownership restrictions in the Investment Company Act of 1940. But they skirt the rule by building stakes through affiliated entities, creating enough of a critical mass to force changes at a fund through proxy voting.\nThe ICI—the mutual fund industry’s lobby—has tried to persuade regulators to crack down on hedge funds. In a submission to the Securities and Exchange Commission last year, the ICI argued that hedge fund campaigns often consume a fund’s resources, trigger tax liabilities for long-term investors, and result in the forced selling of securities to meet a hedge fund’s demands for a tender offer. A fund’s expense ratio could increase if it is forced to buy back shares and its asset base shrinks.\nThe activist community’s “assault” on the industry has had a chilling effect on product launches, the ICI said, resulting in fewer closed-end funds on the market today than in 2007.\nBut hedge funds argue that changing the 1940 act would amount to a power grab by mutual funds. “This is all coming from the mutual fund industry, and it’s no coincidence that this protects them,” says Phil Goldstein, co-founder of Bulldog Investors, an activist that has long targeted closed-end funds. “There are funds with terrible performance and wide discounts. The ICI never says we need a mechanism where shareholders can hold those managers accountable.”\nImposing an ownership cap would also make proxy campaigns less economic. Limited to 10%, hedge funds wouldn’t own enough shares, with sufficient economic interest, to justify the expense of a proxy contest, which can cost millions of dollars. “If you’re limited to 10% and have to spend 2.5% of your assets on a proxy campaign, you’d say it’s too risky,” says Goldstein. “Meanwhile, management isn’t spending anything—just shareholder money. They want to make it economically unattractive to run a proxy contest.”\nRegulators and courts have expressed skepticism about some defenses that closed-end funds have adopted to prevent shareholder challenges. And, the SEC might not side with the fund industry. Since 2010, the SEC has warned fund companies against using state securities laws to thwart hedge fund takeovers. The SEC dropped its objection to these state “control share” laws last year under its Republican chairman, Jay Clayton. But the new, Democratic chairman, Gary Gensler, might reinstate the SEC’s objection—a reason for the industry to enlist Congress to change the law. The SEC didn’t respond to requests for comment.\nInstitutional Shareholder Services,a firm that makes recommendations on proxy voting, says investors should reject fund companies’ use of state control-share laws, which limit the voting rights of shareholders. With the SEC on the sidelines, ISS says, “CEF shareholders are denied important voting rights and are subject to management entrenchment.”\nHedge funds don’t always win, but investors might want to ride along as activists build a stake. “When an activist comes in, you usually see an increase in the share price and a decrease in the discount,” says Matt Souther, an associate finance professor at the University of South Carolina.\nTempleton Global Income’s (ticker: GIM) discount to NAV could narrow further if Saba acquires more shares or tries to take over the fund’s $743 million in assets. Saba recently took over management of another fund, Voya Prime Rate Trust, which it rebrandedSaba Capital Income & Opportunities(BRW).Franklin Templetonand Saba declined to comment.\nMiller/Howard High Income Equity(HIE) is also in Saba’s crosshairs. The fund is a “term trust” with a mandated liquidation date in 2024. It trades at a 5.9% discount to NAV. “In a worst-case scenario, you buy it at a discount and you’ll earn an excess return from now to 2024 because that discount will narrow,” says Patrick Galley, co-manager ofRiverNorth Opportunities(RIV), a closed-end fund that owns HIE.\nOther closed-end funds in which Saba owns stakes includeSource Capital(SOR) andInvesco Dynamic Credit Opportunities(VTA). Bulldog has built a position inTortoise Energy Independence(NDP).\nSome closed-end funds look attractive on their fundamentals.Adams Diversified Equity(ADX) offers exposure to big tech stocks, trades at a 14% discount to NAV, and is committed to an annualized distribution of at least 6%. “For investors who expect tech to do well, ADX is a good holding,” says David Tepper, a closed-end investor and head of Tepper Capital Management in San Francisco.\nSprott Focus Trust(FUND) is another fund he likes. Veteran small-cap manager Whitney George runs it, and his family owns 45% of the shares. It trades at a 10% discount and yields 5.7%. Tepper also favorsRoyce Global Value Trust(RGT), trading at a 9% discount and yielding 7.9%.\nNone of these funds has attracted much activist involvement, according to securities filings. But if activists see opportunity, they could pile in and pressure fund management—assuming that Congress doesn’t rewrite the rules of engagement.","news_type":1},"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802865370,"gmtCreate":1627756937090,"gmtModify":1633756645862,"author":{"id":"3577961635989748","authorId":"3577961635989748","name":"Kiwitay","avatar":"https://static.tigerbbs.com/3937d9e7aba72d662ad7a71769c32a49","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577961635989748","authorIdStr":"3577961635989748"},"themes":[],"htmlText":"Pfizer-vaxxed!&nbsp;","listText":"Pfizer-vaxxed!&nbsp;","text":"Pfizer-vaxxed!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802865370","repostId":"1173075225","repostType":4,"repost":{"id":"1173075225","kind":"news","pubTimestamp":1627704977,"share":"https://www.laohu8.com/m/news/1173075225?lang=&edition=full","pubTime":"2021-07-31 12:16","market":"us","language":"en","title":"5 Best Dividend Stocks to Buy in August","url":"https://stock-news.laohu8.com/highlight/detail?id=1173075225","media":"US News","summary":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.That hints that gains could be tougher to score in the months ahea","content":"<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.</p>\n<p>That hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.</p>\n<p>If you're interested individend stocksright now, here are five that look particularly strong at the start of August:</p>\n<ul>\n <li>EPR Properties (ticker:EPR)</li>\n <li><a href=\"https://laohu8.com/S/NAVI\">Navient Corp</a>. (NAVI)</li>\n <li>Pfizer Inc. (PFE)</li>\n <li>Vedanta Ltd. (VEDL)</li>\n <li>Vistra Corp. (VST)</li>\n</ul>\n<p>[Sign up for stock news with our Invested newsletter.]</p>\n<p><b>EPR Properties (EPR)</b></p>\n<p><b>Dividend yield:</b>5.7%</p>\n<p>EPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.</p>\n<p><b>Navient Corp. (NAVI)</b></p>\n<p><b>Dividend yield:</b>3.2%</p>\n<p>Student loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&amp;P 500, even after that run.</p>\n<p><b>Pfizer Inc. (PFE)</b></p>\n<p><b>Dividend yield:</b>3.6%</p>\n<p>Big Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.</p>\n<p><b>Vedanta Ltd. (VEDL)</b></p>\n<p><b>Dividend yield:</b>5.1%</p>\n<p>Vedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.</p>\n<p><b>Vistra Corp. (VST)</b></p>\n<p><b>Dividend yield:</b>3.1%</p>\n<p>A Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.</p>","source":"lsy1627705648360","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Best Dividend Stocks to Buy in August</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Best Dividend Stocks to Buy in August\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-31 12:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html><strong>US News</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market ...</p>\n\n<a href=\"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VEDL":"Vedanta  Limited","VST":"Vistra Energy Corp.","EPR":"EPR不动产","PFE":"辉瑞","NAVI":"Navient Corp"},"source_url":"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173075225","content_text":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.\nThat hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.\nIf you're interested individend stocksright now, here are five that look particularly strong at the start of August:\n\nEPR Properties (ticker:EPR)\nNavient Corp. (NAVI)\nPfizer Inc. (PFE)\nVedanta Ltd. (VEDL)\nVistra Corp. (VST)\n\n[Sign up for stock news with our Invested newsletter.]\nEPR Properties (EPR)\nDividend yield:5.7%\nEPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.\nNavient Corp. (NAVI)\nDividend yield:3.2%\nStudent loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&P 500, even after that run.\nPfizer Inc. (PFE)\nDividend yield:3.6%\nBig Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains one of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.\nVedanta Ltd. (VEDL)\nDividend yield:5.1%\nVedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.\nVistra Corp. (VST)\nDividend yield:3.1%\nA Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.","news_type":1},"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145900730,"gmtCreate":1626184882920,"gmtModify":1633929285361,"author":{"id":"3577961635989748","authorId":"3577961635989748","name":"Kiwitay","avatar":"https://static.tigerbbs.com/3937d9e7aba72d662ad7a71769c32a49","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577961635989748","authorIdStr":"3577961635989748"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145900730","repostId":"1142482969","repostType":4,"repost":{"id":"1142482969","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626183653,"share":"https://www.laohu8.com/m/news/1142482969?lang=&edition=full","pubTime":"2021-07-13 21:40","market":"us","language":"en","title":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.","url":"https://stock-news.laohu8.com/highlight/detail?id=1142482969","media":"Tiger Newspress","summary":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition","content":"<p>SOHU&nbsp;shares&nbsp;surges&nbsp;20%&nbsp;in&nbsp;early&nbsp;trading,as&nbsp;official approval for a Tencent Holdings Ltd. acquisition.</p>\n<p><img src=\"https://static.tigerbbs.com/c4b85f8ad31933441326d9abac73484b\" tg-width=\"1270\" tg-height=\"600\" referrerpolicy=\"no-referrer\">Tencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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