Some ETFs like PTY have high leverage, according to seekingalpha 74.19% of leverage. They also trade at a 26.45% higher price than NAV. I wonder if the calculation of the NAV takes into consideration the high leverage they have? I.e. the higher price that you pay compared to the NAV is due to the leverage?
https://seekingalpha.com/symbol/PTY/holdings
https://www.morningstar.com/cefs/xnys/pty/quote