Passive Income of $5,600 Annually Can Be Had From These 5 High-Yield Closed-End Funds

Passive Income of $5,600 Annually Can Be Had From These 5 High-Yield Closed-End Funds

Key Points US mutual funds trace their origin to 1924’s Massachusetts Investors Trust, which was the first formalized US mutual fund entity. Closed-end funds (CEFs) are similar to mutual funds, except they trade on an exchange based on a fixed number of shares, so market price may differ from NAV. Excellent double-digit yields can be obtained with a portfolio of selected CEFs that can benefit the portfolios of retirees and income-focused inve…