Global Diversified Investment Grade Income Trust II GIIZF

My 2¢ worth

[spazzman]

If this fund is winding down then look for the last N.A.V. net asset value ("NAV") per unit as at April 30, 2014 was estimated to be $0.32

Sorry to say, but if history repeats itself this Halt is not good news. 

[Sleddawg63]

That NAV was announced two weeks ago and it's only down four cents from 8 months ago.  Not enough to cause a sell off out of the blue.  If this halt is for material (bad) news then someone tipped off somebody big last week.

[spazzman]

You are right the change in N.A.V. is not the catalyst for the price drop that started May 09.  Instead its their investment in credit default swaps.  When I first invested in GII.UN 2009 the fund owned at least 3 of these securities.  I believe currently there is just one left.  i believe that this security came due today, has defaulted  and shareholders are now left with

[spazzman]

It certainly looks like someone was tipped off and sold everything at market on Friday.  Will the regulators investigate? I can only hope for the sake of current shareholders. 

[thirdstreet]

I got out midday before the halt as was expecting this. For a low market cap this one always ends up experiencing the cascade selloff effect which started off by a few investors dumping a bunch of shares feeding seller's fear specualtion which trending shows is real and results in the stock resetting to its NAV. I'll probably buy back in once it finds it's bottom. Good luck and sorry