RE:RE:Treasury stock issue predictionI do not think they will issue another overnight offering. They used to regularly do that, and the SP dropped instantly. Last October 30, they issued an At-the-Market (ATM) equity program that allow them to purchase shares at the market. That way, they didn't have to issue shares in a lump and drove down the price, and they didn't have to pay 5% commissions to the underwriting banks that took the bought deals. When the ATM program was issued, the SP stayed steady. That program ended July 4, 2020. If they want to issue more shares, they probably will issue another ATM. No more overnight offerings!
navgod wrote: My post seems to have generated some interesting responses which I will try to address.
1) I meamt to say "within a month" ie 30 days in terms of my timeline.
2) the dividend is irrelavent to the dicussion - divi paid nav drops
3) the price drop for the capital shares on a treasury issue in these shares is usally around 30-40 cents
4) the reason Quadravest does issues is to increase their assets under management and therefor their fee income pretty simple.
5) the buyback is irrelavent as Quadravest did this for several splitshares at the same time when they were all trading at or below their unit nav. Not allowed to buy back shares at a premium to nav also not allowed to issue shares at a discount to nav.
6) not sure what the 3rd friday has to do with maintaining a short but I am not worried, I expect to increase the position if the premium to nav is at the current level or higher.
7)Still think I am one of the good posters :)
GLTA