RE:RE:FTN up , while top holdings downI suspect that you are hoping to scare people off, from buying FTN. The portfolio was up over 1/2% today after a rise over 1%, yesterday. If you look at the history of FTN, when the distribution is paid for several months, FTN share price is between $8 and $10. For whatever reason, the "premium" is irrelevant. Consider the $.125 distribution..........on a $10 stock, that would be 15%.........cannot argue with the risk/reward consideration.
As a shorter, you should WATCH FTN share price rise and THEN short it. If tou have already got a short position, I can see why you are telling the world to jump off.........I watched the value of FTN portfolio as it came up from the $14 NAV.. As it rose above $15, I bought 2000 shares @ $6.24. That was on the morning of Sept 9th. The market has closed for today. FTN is at $7.13.
That is a gain of almost $1800 in 3 days. I realize that that is not a great gain for the big investor, but it is quite substantial for me. ALSO, since it seems that the NAV will most likely be >$15 when the distribution is declared, I will also get an additional $250 for the month
Disclaimer: I am not so naive as to not be ready for some catastrophe to hit the banks. I will
certainly keep watching and be prepared to sell. For the time being, I am
enjoying watching the shorters poop in their pants AND get in line to PAY MY
distribution!!