In This Market, Are Dividends as High as 9.7% Really That Affordable?
Overview of Closed-End Funds (CEFs): CEFs are distinct from mutual funds and ETFs, often trading at discounts to their net asset values (NAVs), making them appealing for contrarian investors seeking high yields, with some funds offering dividends as high as 9.7%.
Highlighted CEFs and Their Strategies: Notable CEFs include Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) with an 8.1% yield, Eaton Vance Tax-Managed Buy-Write Opportunities (ETV) at 8.3%, and ClearBridge Energy Midstream Opportunity Fund (EMO) yielding 9.7%, each employing unique strategies like leverage and covered calls to enhance returns.
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- Acquisition Proposal: Denarius Metals plans to acquire Emerita Resources through an all-share transaction, offering a 15% premium over Emerita's closing price on April 10, 2026, to enhance production of critical minerals, silver, and gold in the Iberian Pyrite Belt.
- Project Development: The company manages four projects in Spain and Colombia, with the Zancudo gold-silver project in Colombia entering the 'early production' phase, set to produce high-grade gold-silver concentrates by Q3 2026, with a processing capacity of 1,000 tons per day.
- Resource Consolidation: Denarius Metals' executive chairman, Serafino Iacono, stated that the merger would scale up available resources in the Iberian Pyrite Belt and consolidate processing of Emerita's IBW material at Denarius' Aguablanca facility, deferring or eliminating capital expenditures for Emerita's standalone processing facility.
- Strategic Joint Venture: Denarius Metals has established a joint venture with ProGrowth, a diversified group in Saudi Arabia, aimed at providing a refining and trading platform for concentrates from the combined Spanish portfolio, enhancing its competitive edge in the international market.
- Dividend Run Concept: ClearBridge Energy MLP Opportunity Fund (EMO) is set to go ex-dividend on 04/23/26 with a dividend of $0.36 per share; historical data shows that in three out of the last four dividends, capital gains exceeded the dividend amount, totaling $7.09, indicating strong price appreciation potential ahead of dividends.
- Ex-Dividend Date Impact: Prior to the ex-dividend date, EMO's stock price rose from $51.19 on 03/09/26 to $53.30 on 03/24/26, reflecting investor expectations for the upcoming dividend and demonstrating market confidence and demand for the fund.
- Diverse Investment Strategies: Investors have varying views on the timeframe for capturing Dividend Run effects, with some opting to buy two weeks prior and hold, while others sell the day before ex-dividend to maximize capital gains, providing flexibility in investment approaches.
- Attractive Annual Yield: EMO boasts an implied annualized yield of 8.46%, making it an ideal choice for investors focused on Dividend Runs; while past performance does not guarantee future returns, its stable dividend history and potential for capital appreciation attract significant investor interest.

Fund Overview: The ClearBridge Energy Midstream Opportunity Fund focuses on investments in the energy sector, particularly midstream companies.
Asset Value: As of March 31, 2026, the fund's net asset value per share was reported at $57.28.
- Net Asset Size: As of March 31, 2026, ClearBridge Energy Midstream Opportunity Fund reported net assets of $114.64 billion, indicating a strong market position and capital strength in the midstream energy sector, which can provide stable income sources for investors.
- NAV per Share: The fund's net asset value (NAV) per share stands at $57.28, reflecting effective asset management and market recognition, which further enhances investor confidence in its long-term investment value.
- Dividend Policy: ClearBridge Energy Midstream Opportunity Fund declared a dividend of $0.36 per share, demonstrating its commitment to providing stable cash returns to shareholders based on sustained profitability, thereby increasing the attractiveness of holding its shares.
- Investment Return Assessment: While the fund's investment strategy involves certain trade-offs, its stable monthly income sources maintain competitiveness in midstream company investments, attracting attention from investors seeking reliable income streams.
- Market Upgrade: Emerita Resources Corp. successfully transitions from the OTCQB to the OTCQX Market, marking a significant achievement in meeting high financial standards and best corporate governance practices, thereby enhancing its visibility among U.S. investors.
- Symbol Change: Starting today, Emerita Resources Corp. trades under the symbol “EMOTF” on the OTCQX Market, a change that facilitates attracting a broader shareholder base and supports the company's future growth.
- Project Advancement: CEO David Gower states that the transition to the OTCQX Market will enhance its influence with U.S. investors and provide improved access to funding for its Iberian Belt West project, which is crucial for permitting and prefeasibility studies leading to a production decision.
- Market Infrastructure: OTC Markets Group Inc. operates the OTCQX Market for trading 12,000 U.S. and international securities, focusing on enhancing market efficiency through data-driven disclosure standards, which supports the long-term strategic development of Emerita Resources Corp.
- Board Strengthening: NetraMark announces the appointment of Lawrence Guy to its Board, enhancing governance with his extensive experience in capital markets and investment management, which is expected to improve the company's competitiveness in the pharmaceutical sector.
- Investment Management Expertise: Currently a Managing Director at Next Edge Capital, Guy focuses on strategic partnerships and evaluating new investment opportunities, and his financial leadership experience will provide crucial support for NetraMark's operational expansion.
- Career Background: Prior to joining Next Edge Capital, Guy served as Vice President at Purpose Investments, contributing to significant growth, showcasing a successful track record in both public and private markets, which is anticipated to bring strategic growth opportunities to NetraMark.
- Education and Certification: Guy holds a BA in Economics from the University of Western Ontario and is a Chartered Financial Analyst, and his professional background is expected to offer stronger decision-making support for NetraMark in a complex investment environment.










