Three closed-end fund IPOs raised more than $2.3 billion on Tuesday.
Far-and-away raising the most cash was ING's
Global Equity Dividend and Premium Opportunity Fund, which started trading on the NYSE on Tuesday.
The ING fund invests in global stocks with a history of dividend generation.
Meanwhile, a Gabelli
natural resources fund raised $332 million on the AMEX and Nuveen's
Tax-Advantaged Floating Rate Fund raised more than $300 million in an initial offering on the NYSE.
Gabelli's Global Gold, Natural Resources & Income Trust invests in gold and natural resources companies, while Nuveen's fund seeks value in adjustable rate preferred securities issued by small- to mid-sized banking companies.
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