RE:RE:RE:RE:NAV as of December 15 reported by Quadravestwolverine99 wrote: DFN has been there hero fund since inception, it had a long history of consistent payments, this last series of misses has been its longest. They needed to show some strength in it.
When you look at all their Splits, only DFN, BK, FTN are producing, the rest are really suspect, their Preferreds are competitive for the most part. Investor Relations at the company is not good, Website out of date, you wonder what is really going on behind the scenes. Caution would seem to be the word at the moment.
The one area where DFN is NOT competitive with other split funds in the Quadravest circus is the rate being paid to the preferreds of 4.58 cents per month. FTN, FFN, LFE, and BK have all raised their preferreds % considerably. I suspect when DFN 5 year extension comes around they will be forced to raise it a bit, but highly doubt it will compare to FFN ( 7.917 cents monthly) or FTN... (7.708 cents)
This also caused the imbalance between preferreds and commons, as ATM program could sell just commons from the treasury instead of UNITS.