In the prospectus it says they use the capital gains from some of the trading to pay out as the dividend, so this makes sense, instead of dropping the dividend earlier, they instead converted the capital gains into the dividend, this means the NAV stays flat, and you still have high income. It's another way of looking at it, it doesn't make it right or wrong... As long as you reinvest those dividends back into the stock, your fine IMO... But if you don't reinvest the dividends and you expect both high income and capital appreciation you may want to look elsewhere.
Another great dividend fund that I like and own is CHW they get a lot of the income from corporate bonds and options etc... and CHW does not rotate and trade to generate income, I wonder what your thoughts are on CHW?
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