Is it surprising that iCap is trading at a discount?

During the last bull market, iCap traded at a high of $2.82.  There are many investors in the market with realised losses or who are still holding iCap shares at higher costs to its present price.

When selecting a closed-ended fund, investors must determine the reason the fund is trading at a discount and whether the discount is significant enought to be attractive. A discount may be justified by

•uncertainty,

•popularity or perceptions of the fund, and

•the underlying asset base.