Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.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.

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Financial 15 Split Corp > Is the PP driving

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Comment by mousermanon Nov 25, 2021 3:14pm

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Post# 34166214

RE:Is the PP driving

I think it likely because FTN trading at a discount and speculation concerning rising interest rate in the near future, may have some opting for the shares in safer split funds, with plenty of safety coverage for paying to commons.
I note that today, FTN is the top mover % wise amongst these splits that i follow, up about 1.65 % today, and currently would have annual yield of 12.36% with over $7.50 of safety coverage above the 15$ threshhold for paying to commons.
DGS is having a big day too, up over 1.26% , but only about $1.70 in safety coverage after distributions are doled out, BUT does yield over 16.6%annaully at this rate.
BK i see up nicely again today, about .7 % and has been on a big move since announcing an increase in the monthly distribution to reflect a 15% yield. It is definitley high in the safety dept. with over 9$ of coverage to the 15 $ threshhold. BK trading at a discount to NAV even after distributions.
Strangely one being left out of the split funds gaining today is DFN, which has a higher safety margin than DGS, about 3$, trading nearly at NAV , so barely a premium even after distributions.
DFN does only yield 14.7% so very similar to BK.