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Alpine Total Dynamic Dividend (AOD) - Get Aberdeen Total Dynamic Dividend Fund Report trades at a 16.4% discount to its net asset value, or NAV, below its three-year average discount of 14.7%. John Cole Scott, chief investment officer at Closed-End Fund Advisors, does not expect that exaggerated discount to last.

"AOD's management aggravated investors a few years ago due to its dividend policy, which it has since changed," said Scott. "Management has improved, but investors are still punishing it unfairly."

Tortoise Energy Independence (NDP) - Get Tortoise Energy Independence Fund Inc. Report trades at a 12.6% discount to its NAV. The three-year average discount for the global equity fund is 10.1%. The pipeline MLP closed-end fund fell 35% in 2015 due to the drop in energy prices, but it is up 5% in 2016. Scott expects more gains ahead.

"Tortoise is a great manager, and even though NDP had a rough year in 2015, the fund was still better than its peers," said Scott. "And it will do much better this year with oil stabilizing."

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Monroe Capital (MRCC) - Get Monroe Capital Corp. Report is a business development company, or BDC, yielding 10%. Scott said it is a "shareholder-friendly" BDC with above-average first lien and variable loans. MRCC's market cap is $175 million.

A BDC is a form of U.S. unregistered closed-end investment company that invests in small and mid-sized businesses, almost like a venture capital company.

"Monroe is a smaller market cap fund, yet it is part of a much bigger shop with great managers," said Scott.

Finally, Scott is a fan of NexPoint Credit Strategies Fund (NHF) - Get NexPoint Strategic Opportunities Fund Report , which trades at a 14.1% discount to its NAV. The three-year average discount for the global equity fund is 13%.

"NHF is a balanced fund which gives investors a hedge fund experience without the hedge fund fees," said Scott. "It has high insider ownership, and that aligns management with investors. That's something we like in a fund."