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The Oil & Gas Journal, first published in 1902, is the world's most widely read petroleum industry publication. OGJ delivers international oil and gas industry news; analysis of issues and events; practical technology for design, operation, and maintenance of oil and gas operations; and important statistics on energy markets and industry activity.

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Ackman’s $25-Billion Fund Goes Poof (and We Profit With Huge Dividends)

By: Contrarian Outlook

August 08, 2024 at 05:00 AM EDT

When legendary activist Bill Ackman makes a move, the investment world notices. So when he said he was going to jump into our favorite income plays—8%+ yielding closed-end funds (CEFs)—it certainly got our attention. We broke it all down in a July 11 article , specifically how Ackman’s latest move—a plan to launch a new CEF with $25 billion in assets under management (making it by far the biggest CEF ever)—was likely to send these funds soaring. Notice I used the word “was” a number of times just now. That’s because Ackman scrapped the plan just last week. Ackman’s sudden about-face left many heads spinning in CEF-land.… Read more