North American Financial 15 Split Corp T.FFN

NAV @ 12:48 pm

[AnEducator]

~$15.29. The capital shares are trading near par.

Please note that I have not yet had the time to revise the spreasheet with the latest portfolio update provided by Quadravest, but the numbers should not diverge much from my estimated value. All dividends are generally accounted for on their ex-dividend date to provide the best estimate.

The plunging CAD is the only positive for this investment today.

[azzurri]

@AnEducator: What is the range of dates Quadravest can use this month for the NAV calculation as it relates to FFN meeting the $15 threshold? I believe they can use today's close as the earliest. Also, what do you have as your NAV estimate at close today?

[AnEducator]

Theoretically, Quadravest can use any day's closing NAV they want since the last update. However, I don't expect them to use a calculated NAV earlier than one trading day before their usual mid-month update. They can certainly also use a date near the end of the month, so long as they can make their announcement five trading days before the record date, as per TSX regulations.

[Nakate]

Taking a -5%  beating today yet the holdings are all down less than 2% and GS is up 2.5%, something is not right

[chessplayer]

Well, I hope you understand that this stock is a leverage play on the underlying assets. For each 1% drop in the underlying assets, ffn will lose about 15 cents in NAV.  on top of this, some are bailing out because they are worried that there will not be a payout this month as we are on the edge of 15$ nav.  no surprise to the stock reaction 

[Freemoney2024]

Any chance we can hold for another half hour to stay above 15?

[chessplayer]

To make myself clearer 1% loss in underlying stock, results in 1% drop in NAV, about 15 cents. Since the value of the prefs is stable at 10$, the capiltal shares lose about 15 cents

[Freemoney2024]

Guess we will wait on pins and needles til Wednesday 

[Nakate]

So the sell off is way over done, just shorts and panic sellers