After the preffered portion is taken off the commons have a value of  $7.58 as of the close yesterday.
Today the UNIT NAV will have gained about 8 cents, so would be $17.71
Value of the commons today would be around $7.66. Premium would be 99 cents at the close of $8.65
Works out to  12.9 %. One of the lowest premiums in the split funds i watch. FTN today would have a premium of just over 10% , and pays about 16.7% yield per annum. Only one i see that is a better value considering lowest premium  to NAV.