Dallas, Texas 10/07/2013 (Financialstrend) – Alpine Total Dynamic Dividend Fund (NYSE:AOD) has had a spate of institutional buyers showing interest in this close ended fund. The latest has been “Citadel Advisors” the top drawer hedge fund advisor which increased its position substantially in this fund over the past three months.
On the same day that Fed announced its “no taper for now” decision, Alpine announced its monthly dividend plan for the month of October. As per the announcement, for each share of AOD stock, share holders will get paid $0.027 per share as of October 31. All share holders on record as of October 24 would be eligible for the dividend payout with the stock going ex dividend on October 22. Since the announcement of the dividend payout plan on September 18, the shares of the fund have lost 1.2%. As of close of business on October 4, the shares of the fund are trading at $4.06 per share and have remained the same over the previous trading session. It has gained over 3.57% per share in the past 30 days and has managed to appreciate by just about 1% over the past 12 months.
As of July 31, for which company has released its portfolio allocation matrix, Commercial Banks form 7.1% of the entire fund investments followed by chemicals and communications equipment adding up 3.2% and 2.9% respectively. The fund also has exposure to real estate which adds up to 5.9% of the total investment portfolio. Energy stock is another major investment vehicle for the fund with close to $67 million being invested by AOD into various energy companies. Equity linked structured notes form the smallest piece of the investment pie with $28 million going into it. Consumer Staples form the largest investment chunk which totally adds up to approximately $ 1 billion in total investments.
