A 23.3% Dividend Yield Makes CEFL Still Attractive

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 post-Brexit-vote lows. The annualized yield on a monthly compounded basis is 23.3%, based on calculations including my projected July 2016 CEFL dividend.