CEF just announced it will be issuing new shares at 10.50. The funds wil either a) sell existing shares over the next few days, as soon as they are sure they are in on the new issue, and pocket the profit (many already did so today) or they will go short the existing shares and still try to pick up the new issue, knowing that the price will adjust to a lower market value for a little while.

Since CEF buys gold and silver with the proceeds, the issue is not dilutive (unless you bought shares over book value).

Given the recent premium to book value on the share price, there could be a very good buy in in the next few weeks.