CEF
Sprott Physical Gold and Silver Trust
stock NYSE ETF

Chasing yield on CEF without understanding the mechanics of them is like buying a car based on how fast it goes.

It's a CEF.....good buy when you can get a discount and useful for getting income from tech. I think it's gotten a bit redundant with the newer CC funds.

Yeah, I have this and another tech-focused CEF (AIO), both of which paid special dividends this year (got a huge one from AIO in January).

I've been DCA'ing and DRIP'ing my income producing ETF's/CEF's - DNP, GUT, GAB, PFN, PCN, PDO, PDI...
I'm retiring early at the end of 2026 so income-focused investments is on my investing radar at this point.

Chasing yield on CEF without understanding the mechanics of them is like buying a car based on how fast it goes.

It's a CEF.....good buy when you can get a discount and useful for getting income from tech. I think it's gotten a bit redundant with the newer CC funds.

Yeah, I have this and another tech-focused CEF (AIO), both of which paid special dividends this year (got a huge one from AIO in January).

I've been DCA'ing and DRIP'ing my income producing ETF's/CEF's - DNP, GUT, GAB, PFN, PCN, PDO, PDI...
I'm retiring early at the end of 2026 so income-focused investments is on my investing radar at this point.

Eventually the 15 year old bear market will end. And when long bull markets ends a bear market will take over and history has shon that long bull markets are followed by long bear markets like 20000 to 2010 were there was essentially no growth for about 10 years. The current tariffs and inflation guarantee a recession will eventually start and that can trigger a bear market.
MLPs are companies that run oil and gas pipelines and refineries that are required to pay out most of there earnings as dividneds. So they don't have a lot of gowtth but pay a heatlthy dividned. One problem with MLPs is they generate K-1 tax forms which complicates your taxes and can generate tax within a Roth or IRA. However if you invest in a ETF or CEF fund that invest in MLP the fund takes care of the K1 tax forms so don't report any K1s in your taxes and avoid all the tax complications.. I have EMO in my taxable and Roth for MLPs and it has a tax efficient 8% yield. EMO should generate impressive earnings in a bear market when index funds may not produce any gowth.

preferred shares are structured to have similar properties to bonds. Essentially the company is selling preferred shares to rasie money To build a new factory or expand the business. The side effect of this is that the yeild ofprefered shares is that last thing they cut if money problems occur. So the compabty cuts the dividned of common share all the way to zero before they touch the dividned of the preferred stock. Many investors like preferred because the dividend is more stable than common shares. But it is best douse a ETF or CEF to invests in these because they sometimes are not listed on brokerages or they may have features that are not desirable in some situations. Without examining each of there holdings I would treat this as a buying oppunity.

I did not learn about dividend investing for income until I was 10 years into retirement. Big regret that I didn’t know about that kind of investing at retirement because we ran through at least $1M savings funding our retirement travel, etc. Before I learned about dividend securities.
Think people should convert to dividend investing at retirement latest for income replacement. Better to start learning and experiencing the differences of dividend investing say a year before retirement so you transition to dividend income more smoothly from your work income. That is what I am advising my family and friends approaching retirement.
Regarding types of dividends, I was first recommended to invest in preferred dividend stocks listed on the NYSE or Nasdaq with a B or better Moody’s rating. Think that was because that is what my friend had started with several decades earlier. There are a lot of other dividend investment securities now and more being offered almost daily. Initial portfolio yield was 8% because I was buying discounted preferreds during the COVID recession at the time getting a yield boost from my dollars invested.
As I learned more about all the types of dividend securities, I kept discovering ones that offered higher yield than quality par priced preferreds (5 to 7% yield) during the recovered markets after the COVID recession. Having a goal of improving my portfolio yield as much as possible, I started selling my preferreds and investing in dividend stocks and funds of all types - Dividend Kings, REIT, CEF, index, etc.. improved my portfolio yield to 10% by year 3.
Picking quality high yield individual dividend stocks was a lot of analysis work compared to picking high yield dividend funds that did not erode in stock price over time (yield traps) gave me better yields with the fund managers doing all the heavy lifting of individual stock analysts for their portfolios. Found dividend funds with at least $1B in AUM (assets under management) with a consistent high (10%) dividend payment over at least 5 years with at least several hundred thousand shares traded each day worked well for me. By year 4 my portfolio yield had increased to 12%. That is my current yield minimum for any new holdings.
Then, late in year 4 I learned about the new covered call ETFs offering yields as high as 100%+. In year 5 I started test investing in a couple with 5% of my portfolio and liked the yield boost. By year end had increased my portfolio yield to 19% but noticed my total return was dropping from stock price erosion with some of these CC ETFs. At my year end portfolio review, I sold the worst eroding of the CC ETFs and am achieving a 16% portfolio yield with to me reasonable total returns.
So now my portfolio has a couple high yield individual dividend stocks and the rest are quality dividend funds and dividend Index funds & ETFs with about 10% of my portfolio in CC ETFs with yields of 30 to 50% for the super high yields. Willing to risk 10% of my portfolio’s discretionary funds for the additional income. I monitor my CC ETF holdings the closest of all my holdings due to their higher risk of stock price erosion.
I can live with this level of investment risk for the greater income it gives me me. Dividend investing has become my favorite retirement hobby so, very actively (daily) manage my portfolio which I believe keeps me aware of any underperforming holding that I actively replace ASAP with other dividend funds to maintain my portfolio yield and total returns.
With this size portfolio spread across 16 holdings mostly paying monthly, I am receiving dividend payments every other day on average. I reinvest the excess dividends I do not spend weekly on average. That involves deciding whether to reinvest in more shares of my existing holdings or finding a new dividend fund to add to my portfolio? So back to dividend fund analysis and decisions keeping me current with the market.
Let me recommend some good dividend investing knowledge and experience resources. This subreddit with its 900k subscribers has lots of great information and learned experiences reading the posts and replies including investment tips. YouTube is another great resource with the many dividend investment authors contributing there. My favorite author is Dividend Bull who has a 5 year long library of videos for beginners to experienced dividend investors. Posts weekly with great high yield dividend securities information and recommendations.
Long answer but this is my journey to very high dividend income which has changed our retirement to financial freedom. Wishing everyone the best in accomplishing the same. Good luck!

I’ve added 1000 shares. I’ve also taken the opportunity to buy some more BDC and CEF positions that are on sale.