RE:RE:RE:BK unit NAV to AUG 9 = approx: $21.05The Lifecos have to invest the money they bring in from their clientelle. This makes them much more vulnerable than the Banks, which are far more diversified, both internally and internationally.
Recently TD announced the take over of a US financial facility.
This sent ripples of fear throughout Canadian bank stock holders and some sold off as the NAV of TD was dilluted.
Some people are saying TD now has to much US representation, etc.
Time will tell. I think it's a good move for the long term but may have been made a bit prematurely.
I buy in and out of FTN for the same reason you do.
Looking at their long term chart, they are in a continuing decline since before the Pandemic scare and have only been flat lining over the past year, with a few ripples.
IMHO, it's not an investment vehicle to hold as depending on the interest sensetivity of their holdings, it can tank very quickly, with little or no warning.
If it drops another buck, I might consider purchasing a couple of K for a longer term hold.
The distribution is very nice though, but losing that amount in share price isn't really a gain.
BK is down appx 4-5%% this year, FTN has a much more significant fall.