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DBL (Double Line) Distribution Cut

I think it's safe to say that the DBL 5.7c/mo distribution cut from 16.5c to 11c was surprisingly large.  While a cut of some kind was generally feared/anticipated, the announced size stunned most observers.  So what now?
    DBL traded down a few percent to 18.91 today in response to the cut, leaving it with a (surely now!) earned distribution yield of 6.98%.  Now imagine a prospective new investor evaluating multi-asset FI CEFs.  VERSUS DSL (9.5+%), DMO (9.50-ish%), PCM (8.90-ish%), and PIMCO favorites PKO, PDI, and PCI all in the 8%-9% range, DBL at 6.98% looks pretty punk or (more gently) "uncompetitive."
     While nothing goes in a straight line, IMO DBL needs to eventually settle in AT LEAST around 8% to avoid consistent de-selection versus similar CEF portfolios.  The new 11c / mo distribution is $1.32 / yr.  The DBL price that provides an 8% distribution yield is $16.50....nearly $2.50 or about 13% down from tonight's closing price.  Of course, my prediction is worth precisely what you paid for it!
Other views?
fund has a duration of 10 years.
I think its just that the NAV is flat at $19.5 vs trading price of 18.5x
folks don't like the div cut
me, i don't like cef bond funds gundlatch or not
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