I would suspect dividend chasers. It traded at a reasonable discount for a long time and only really became popular once they announced a material increase in dividends. Although price has fluctuated a little, and drifted a bit recently, it has traded at , or close to , an after tax NTA premium pretty much since the dividend increase. The portfolio has been fairly stable with only a few changes here and there along the way. I sold out, after holding for years, when they proposed to buy out PAF at NTA.
PGF Price at posting:
$1.54 Sentiment: None Disclosure: Not Held
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