TSX:EIT.P.A - Post by User
Comment by
BuenaSuertaAtodon May 09, 2014 12:05pm
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Post# 22544175
RE:RE:RE:Could we see ...
RE:RE:RE:Could we see ...
I like the portfolio too, and more important - so does the market. The NAV has been inching up & the SP with it. I was not challenging the 18.00 so much as the soon part. I've been viewing EIT.un as a good income earner for the patient investor. After all, some of that income is a return of capital, and therefore a drag on capital appreciation.
It will take a lot of inching up for the NAV to hit 18.00, let alone the SP which has been at a discount for longer than I've been following EIT.un. Warrant issues have been known to hold back the SP. I understand the strike price of the upcoming warrant to be $12.40 (or less depending on SP at the time). It's easier to find examples of closed funds trading below the strike price of their unexpired warrants than above it. Investors have at times been very hostile to warrant offerings - perhaps irrationally so.
But regardless of these caveats, it is a quality portfolio trading at a discount.
GLTA!