SCHEDULE 13D/A
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
1/30/17
1. NAME OF REPORTING PERSON
Bulldog Investors, LLC
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
356,556
8. SHARED VOTING POWER
406,915
9. SOLE DISPOSITIVE POWER
356,556
_______________________________________________________
10. SHARED DISPOSITIVE POWER
406,915
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
763,471 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
7.84%
14. TYPE OF REPORTING PERSON
IA
___________________________________________________________
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
356,556
8. SHARED VOTING POWER
406,915
9. SOLE DISPOSITIVE POWER
356,556
_______________________________________________________
10. SHARED DISPOSITIVE POWER
406,915
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
763,471 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
7.84%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
356,556
8. SHARED VOTING POWER
406,915
9. SOLE DISPOSITIVE POWER
356,556
_______________________________________________________
10. SHARED DISPOSITIVE POWER
406,915
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
763,471 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
7.84%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Steven Samuels
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
356,556
8. SHARED VOTING POWER
406,915
9. SOLE DISPOSITIVE POWER
356,556
_______________________________________________________
10. SHARED DISPOSITIVE POWER
406,915
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
763,471 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
7.84%
14. TYPE OF REPORTING PERSON
IN
_______________________________________________________
Item 1. SECURITY AND ISSUER
This statement constitutes Amendment #2 to the schedule 13d
filed October 3, 2016. Except as specifically set forth
herein, the Schedule 13d remains unmodified.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As per the N-CSR filed on December 23, 2016, there were 9,740,623 shares
of common stock outstanding as of October 31, 2016. The percentages set forth
herein were derived using such number. Phillip Goldstein, Andrew Dakos and
Steven Samuels own Bulldog Investors, LLC, a registered investment advisor.
As of January 30, 2017, Bulldog Investors, LLC is deemed to be the beneficial
owner of 763,471 shares of KEF (representing 7.84% of KEF's outstanding
shares) solely by virtue of Bulldog Investors LLC's power to direct the vote
of,and dispose of, these shares. These 763,471 shares of KEF include 356,556
shares (representing 3.66% of KEF's outstanding shares) that are beneficially
owned by the following entities over which Messrs. Goldstein, Dakos and
Samuels exercise control: Opportunity Partners LP, Calapasas West Partners LP,
Full Value Special Situations Fund, LP, Full Value Offshore Fund, Ltd.,
Opportunity Income Plus, Full Value Partners, LP, and MCM Opportunity
Partners, LP (collectively, "Bulldog Investors Group of Funds"). Bulldog
Investors Group of Funds may be deemed to constitute a group. All other shares
included in the aforementioned 763,471 shares of KEF beneficially owned by
Bulldog Investors LLC (solely by virtue of its power to sell or direct the
vote of these shares) are also beneficially owned by clients of Bulldog
Investors, LLC who are not members of any group. The total number of these
"non-group" shares is 406,915 (representing 4.18% of KEF's outstanding
shares).
(b)Bulldog Investors,LLC has sole power to dispose of and vote 356,556 shares.
Bulldog Investors, LLC has shared power to dispose of and vote 406,915 shares.
Certain of Bulldog Investors, LLC's clients (none of whom beneficially own more
than 5% of KEF's shares) share this power with Bulldog Investors, LLC. Messrs.
Goldstein, Dakos and Samuels are control persons of Bulldog Investors, LLC.
c) Since the past filing on 12/9/16 the following shares of KEF were purchased:
Date: Shares: Price:
12/09/16 700 7.74
12/12/16 3,034 7.7762
12/13/16 1,800 7.8036
12/15/16 9,000 7.7000
12/16/16 100 7.5700
12/20/16 900 7.4733
12/23/16 2,600 7.3900
01/05/17 22,825 7.6076
01/06/17 282 7.5629
01/10/17 9,500 7.5978
01/23/17 6,413 7.8756
01/30/17 50,400 8.0449
d) Clients of Bulldog Investors, LLC are entitled to receive any dividends or
sales proceeds.
e) N/A
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 1/31/17
By: /S/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
By: /S/ Steven Samuels
Name: Steven Samuels
Bulldog Investors, LLC
By: /s/ Andrew Dakos
Andrew Dakos, Member
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.