Monday NAV was back onsideMiddlefield published Monday's NAV this morning and it matched my Expected NAV according to the 44% (0.44x the actual change of the price of ENB on Monday). That is expected as it typically takes about a week for Middlefield to invest the proceeds of a Raise in ENB.
The published NAV for ENS will drop $0.13 tomorrow as the ENS Record Date is tomorrow. As such, the Premium to the NAV will jump up a bit ($0.13 divided by $11.40ish so about 1.1%) which still leaves the Premium at cyclical lows.
The next paragraph my not be of interest to many ENS investors as it goes down the rabbit hole a little.
It was not a surprise to see the ENB share price take a bit of a rest yesterdat after the ENB buying spree last week by Middlefield on behalf of ENS. One might think that Middlefield's buying would not affect the ENB share price as ENB traded about 9 million shares per day and Middlefield would have only added about 200k shares of ENB per day on average. I don't think most retail investors understand how the market really works today. My guess is that for every 1 share of real buying of a large cap stock, the daily numbers show 10x that amount. The difference is due to the unbelievable action of high speed trading that takes place between your "real" order and seeing your order exectuted. So, if Middlefield was putting in real orders for 200k shares of buying per day, the ripple effect would be strong.