My guess is that many WAM holders need the high dividend yield (inadequate retirement savings having to work hard to generate income to live off). The dividend yield is probably what attracted them to WAM in the first place.
Probably turning a blind eye to the sustainability of that yield, and crossing fingers and toes that the share price downturn is only temporary.
WAM Price at posting:
$1.48 Sentiment: None Disclosure: Not Held
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