The rights offerings are the main reason I no longer buy closed-end funds. Stated long term performance goals don't seem very ambitious. I am glad to see the fund doing a little better. I do not like receiving a return of capital. It is a form of market timing and is beyond the responsibility of the fund manager.
Preferred stock is of no value.
Business today is very uncertain - no time for radical changes. Less gimmickry and devote attention to stock picking. This is the perfect fund for retired people. We don't need preferred stock. We bought this fund for income as I believe most retirees did that made purchases of this fund.