Financial 15 Split Corp T.FTN

Premium down to 1% !!!!!!

[Inglewood]

As of 12:20 EST, I got the NAV flat... so $16.92. Current price = $6.99. That puts the premium at 7 cents, or a paltry 1.01%!!!

For this high of a distribution, and this level of safety... I have not seen a premium this low! 

Am I correct? MM / Educator.. any thoughts?

Maybe everyone is waiting for the Fed this week. I think it will be more of the same from them.. meaning not saying much. Hikes still possible, supply-demand more balanced. Another pause and stay the course.

[Donwaan]

Maybe a low premium is the new normal for now at least. Look at LCS, it trades at a discount. Albeit the distribution is less than FTN but the NAV is about the same.

[mouserman]

Today LCS will have blown thru 17$ UNIT NAV ,  MFC  is up over 2% today alone... SLF also having a good day.. FTN also has MFC and SLF , but a much lower weighting of course. FTN unit nav should be up a few pennies , so maybe trading just above  its NAV... 

[NoShoesNoShirt]

DFN was taken out by shorts, otherwise even when it stopped paying it wouldn't have dropped. Then BK had its premium stolen by shorts. The shorts may not understand how splits work, and I swear shorts are attacking FTN now. But they will fail this time because of the great nav 16.92.

[navgod]

}First let me say I currently have a small long position in FTN but have been short several times in the last year but only when it was trading at a significant premium. Ftn is not under a short attack -- since OCT 15 the FTN short position has been flat or down. The average Short understands splitshares much better than the average FTN long if this board is any indication. When DFN stopped paying

[mouserman]

I still have 2500 shares bought a week or two ago.. . discount was very low and looked like FTN will survive 2023 and keep paying into 2024... I suspect we will see a runup in those FTN commons the last 7 or 8 trading days before ex divvy date comes. Hasnt been any real short action on FTN of late: Short Positions for FTN Symbol Report Date

[dannodotcom]

So Dec 28th should be x-div and that means there are only 10 days (not including today) left to buy and collect the dividend. 

[NoShoesNoShirt]

Navgod, I think investors who read Stockhouse understand splits whether long or short. It's the others I refer to. But I'm wrong since the stats posted here showing few short.