I don't think WAX is actually at a premium. My calculations simply take the latest end of month release and update it daily for changes in the Index, so I could be wrong if the index is not reasonably close to the actual underlying stock movement. However my calcs show ir is still at a 4% discount which seems to be a big difference.
Having said that, I think it is great that a little LIC like this trades that well. I have a lot of WAX in my DIY fund because of the good and reliable dividend. A couple of years ago it was at a discount over 20% which is where I increased my holdings quite a bit.
WAX Price at posting:
91.5¢ Sentiment: LT Buy Disclosure: Held
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