DERIVATIVE INSTRUMENTS HEDGING AND NON-HEDGING ACTIVITIES (Details 6) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest rate:
Amount of realized gain (loss)		$ (3,089,001)	$ (12,024,730)	$ (18,214,460)
Amount of unrealized appreciation (depreciation)		5,495,463	4,909,858	(2,931,249)
Total		2,406,462	(7,114,872)	(21,145,709)
Interest Rate Swaps [Member]
Interest rate:
Amount of realized gain (loss)	[1]		(7,047,875)	(9,705,847)
Amount of unrealized appreciation (depreciation)	[1]		1,755,108	(761,429)
Total	[1]		(5,292,767)	(10,467,276)
Swaptions [Member]
Interest rate:
Amount of realized gain (loss)			(84,000)	(336,000)
Amount of unrealized appreciation (depreciation)			62,450	(1,413,244)
Total			(21,550)	(1,749,244)
Eurodollar Futures [Member]
Interest rate:
Amount of realized gain (loss)		(3,089,001)	(4,892,855)	(8,621,211)
Amount of unrealized appreciation (depreciation)		5,495,463	3,092,300	(688,217)
Total		$ 2,406,462	$ (1,800,555)	(9,309,428)
TBAs [Member]
Interest rate:
Amount of realized gain (loss)				448,598
Amount of unrealized appreciation (depreciation)				(68,359)
Total				$ 380,239

[1] In the year ended December 31, 2015,net swap interest expense totaled $2,216,417 comprised of $2,719,563 in interest expense paid (included in realized gain (loss)) and $503,146 in accrued interest income (included in unrealized gain (loss)). In the year ended December 31, 2014, net swap interest expense totaled $3,495,232 comprised of $3,329,219 in interest expense paid (included in realized gain (loss)) and $166,013 in accrued interest income (included in unrealized gain (loss)).