Z-Statistic (Ex Par)

A z-statistic, or z-score (ex par) measures how unusual a closed-end fund’s current premium or discount is compared with its own history. It uses only the relationship between market price and net asset value, with no adjustment for distributions (dividends, capital gains, and return of capital). Price movements around distribution payments therefore stay in the historical series.

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Z-Statistic (Ex Par)

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