Financial 15 Split Corp T.FTN

FTN unit nav TO OCT 26 = approx: $15.60

[mouserman]

So FTN looks to have lost about 45 cents off the UNIT NAV  since themidmonth update. Strong  1.1% move by UP the USD vs CAD  has helped  the US holdings look much stronger than they really were.
Financials pulled back a bit in the last hour of trading...
FTN premium here with the last trade @ $6.03 is approx: 43 cents before dist. 
After distributions are figured in the commons have a value of about $5.41... so the premium then would be approx: 11.4%.
Hard to figure why the highest yielding split fund common has the lowest premium at this point. Could be the markets dont think the yield payouts on commons and preferreds ( these are going up in December) is going to be sustainable in the coming months.
SBC and LBS continue to have the highest premiums... and their payout to commons and preferreds are lower.

[Golferman]

Yes.... not sure why the FFN.PR.A is still trading at 9.81 Golferman 

[ANALOG GUY]

  ? closed at $10.03 today 

[Golferman]

Yes Ftn.pr closed at 10.03 but Ffn.pr is still 9.81 not sure why.  Golferman

[mouserman]

As far as the yield etc go, FFN.pr.a should already be at 10$. I would imagine it will happen in DEC when the payout gets hiked to  7.917 cents monthly , which is higher than the FTN preferred payout of 7.70 cents monthly. But at the moment FTN looks safer , with  more room above 10$...  If FFN unit nav falls below 10$ , the commons are worthless and another consolidation happens