Voya Global Advantage and Premium Opportunity Fund (IGA) Stock

U.S. stock valuations are high, with SPY up 26% YTD. Is a lost decade ahead? IGA has a 10.5% yield, value focus, and international exposure, making it a strong alternative to SPY, which has a similar historical return, but has higher risk. IGA's strategy uses call options, which perform well in volatile markets, and has had a 6.86% annual price return over 10 years plus 10.5% dividend.

The Voya Global Advantage and Premium Opportunity Fund switched to monthly distributions and increased payout earlier this year. As expected, that has led to some discount contraction since our prior update, but there is still some appeal here that can make the fund worth continuing to hold. The fund focuses on value-oriented sectors, global exposure, and options writing strategy to generate distribution.

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The S&P 500 recently underwent a market correction, dipping below 5000 for the first time since February 21. Voya funds have announced alterations in distribution, with IDE showing the largest boost of 31% and IGA following closely with a 29% increase. The IGA fund now provides a monthly income stream with a 12% annual yield, making it an attractive option for investors seeking income.

The Voya Global Advantage and Premium Opportunity Fund is currently trading at a historically low discount, making it a potentially appealing investment choice. IGA has decided to switch to a monthly distribution with an increase, which is typically preferred by investors seeking income. Saba Capital Management has a small position in IGA.

Voya Global Advantage and Premium Opportunity Fund offers a high level of income through its portfolio of equities and dividend-paying stocks. The fund's recent performance has been disappointing, with a declining share price over the past three and five years. The fund's distribution history shows declining distributions and net assets, raising concerns about its ability to sustain its current yield.

Voya Global Advantage and Premium Opportunity Fund remains at a deep discount, making it an attractive offering with exposure to global investments. The IGA closed-end fund utilizes a value-oriented approach with a call-writing strategy, providing some defense to its portfolio. Due to the large discount, the fund's distribution rate is quite attractive relative to what the fund has to earn to cover the payout currently.