CEFL Still Attractive With 21.8% Dividend Yield, But Interest Rates Are A Concern

I am still bullish on the UBS ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN (NYSEARCA: CEFL) despite the recent rebound in the price from the January 2016 lows. The annualized yield on a monthly compounded basis is 21.8%, based on calculations including my projected June 2016 CEFL dividend.