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Financial 15 Split Corp T.FTN

Alternate Symbol(s):  T.FTN.P.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to Preferred Shares are to provide holders of Preferred Shares with cumulative preferential monthly cash dividends in an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 per Preferred Share on or about the termination date. Its investment objectives with respect to Class A Shares are to provide holders of Class A Shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.


TSX:FTN - Post by User

Comment by mousermanon Feb 24, 2024 12:03pm
182 Views
Post# 35897185

RE:RE:FTN UNIT NAV to FEB 23 = approx: $17.85

RE:RE:FTN UNIT NAV to FEB 23 = approx: $17.85
Golferman wrote:

Monday and Tuesday should be good green days for the share price .... as I can't remember a previous ex-day that we didn't have share price premium. As I said earlier let's see a break $8.00... we are due. 

Golferman 

 


As i posted earlier, having a lot of safety and decent yield near 205 would historically give you quite a premium. But right now a kind of phenomenom where some split funds are suddenly breaching the 15$  UNIT NAV and paying to commons, with yields that would be much higher if they were to stay above the level. DF looks as tho it may make the cut this month, FFN ,LFE have already, and DGS doing really well. All of those have higher yields than FTN ... so i think a lot  split fund $$ are going that direction. And think too also many were buying these down near 4$ so sitting on big capitals gains and not in a rush to unload now that they are paying. I am in that position on LFE... and it is now a bigger position for me than FTN.  Yield annually would be 24.1 % at the closing price of $4.97, but is nearer to 
28% at my average in price of $4.25 after trades...
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