Watching Corporate High Yield Fund, Inc.
Posted on December 19, 2005 , Filed Under Stocks
I’ve been watching COY, Corporate High Yield Fund, Inc. for over a year now and waiting for it to drop below $8. COY operates as a diversified, closed-end management investment company. COY currently pays a monthly dividend of $0.062, equivalent to 9.8% annually. The company was founded in 1993 and the stock price has rarely traded below $8. COY is currently trading less than $7.50. I expect the stock to drop a bit more before rebounding. I might pick up some shares of COY if the stock drops below $7.40. I expect the shares to rebound within 1-3 months and pass $8 again.
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[…] On December 19th, 2005, I wrote this post about COY, Corporate High Yield Fund, Inc. At the time, the stock was trading around $7.50 and paying a .0062 monthly dividend, equivalent to 9.8% annually, I predicted that the stock would rebound to above $8 within 1-3 months. COY closed at $8 on February 22nd, 2006. Today the stock closed at $8.11. COY is among several high dividend closed-end bond funds that I watch. I did not take a position in COY. […]
[…] I wrote this post about COY on December 19th, 2005: I’ve been watching COY, Corporate High Yield Fund, Inc. for over a year now and waiting for it to drop below $8. COY operates as a diversified, closed-end management investment company. COY currently pays a monthly dividend of $0.062, equivalent to 9.8% annually. The company was founded in 1993 and the stock price has rarely traded below $8. COY is currently trading less than $7.50. I expect the stock to drop a bit more before rebounding. I might pick up some shares of COY if the stock drops below $7.40. I expect the shares to rebound within 1-3 months and pass $8 again. […]