RE:FTN unit nav to March 26 = approx: $18.33Mouserman...thanks again for your posts...very informative to say the least
Yep there are a number of ways to play splits. So in that sense as a trading vehicle they provide more combinations than regular companies. We will see how things play out, but I decided today to sell some of holding since there is a double payout - commons and preferreds and may be able to pick up some back if the price goes down. Fortunately I was able to get most of it sold at a higher price than the closing price today.
With LCS last Fall, I did 4 roundtrips when people panicked that the divy would be cut and was able to buy in at 5 or high 4s and then sell after it rebounded. All that said, I don't view splits as long term holds but targets where there often price inefficiences which can be exploited.