E Split Corp T.ENS.PR.A

Happy 2024

[Obscure1]

ENB is up $0.47 while ENS is flat on the day.  That makes the Live NAV $11.12 at the time I'm writing this which means the premium is 8.09%.  

If you agree with me that the ENB share price is likely to go higher this year, this looks like a pretty good entry point.  If you think ENB share price is going to back off, stay away from ENS until you think ENB has bottomed

[Puma1back]

have you factored in the capital raise and presumably larger holding of ENB shares in that NAV or the old disclosures?  

[Obscure1]

Puma: It appears that it took Middlefield about a week to fully deploy the funds from the Raise into more ENB shares.  I can't be certain of exactly how much was invested and how fast, but the daily NAV reports  gives us a clue.   After the Raise but before the money was deployed, the "factor" applied to the daily change in the ENB share dropped from 0.44 to 0

[Puma1back]

Both these stocks spiked right at the beginning of November and then moved differently. Between November 6th and November 28th Enb closed at the same price - $46.37 and in between was choppy around that line - though the November 14 th ex dividend date was most of the choppiness as expected. same period ENS went from $11.84 to $12.59, a rise of 6.3% - interestingly it shrugged off the ex

[Experienced]

Obscure - I think you are overthinking this. As you know from my posts on other Boards that I try to simplify things.  In the case of ENS just buy ENS when the premium is low (3-7%) and then sell when the premium gets into the mid teens - rinse and repeat.  Don't worry about the "whys" since for most splits being primarily retail there is no logic or metrics to rely on.