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MS Frontier Markets CEF (FFD) to Open-End; Sell?

edited May 2012 in Fund Discussions
Recently bought this CEF at 14% discount and today it has jumped about 10% on the news to seek shareholder approval to open-end the fund. I'm wondering if I should take the sort-term gain or hold on to see if the terms of the conversion (not yet communicated) would benefit shareholders. I assume the discount would narrow some more.

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