RE:Brompton update UNIT NAV to NOV 2 @ $15.88There should have been little or no buying by the fund from the pref issue as those funds will be used to payout the pref holders that exercised their retraction right and will receive the payment by the 10 business day of Nov.. I expect the cash will just sit around for two weeks rather than be used for a short term trade. The negative impact on NAV of around 12 centsI am predicting will show up in the next two weeks. GLTA
mouserman wrote: Big move up yesterday, but obviously the preferred offering did NOT increase the UNIT NAV for reasons explained by Navgod. After the recent offering the LBS cash position is likely much higher , so last update had the % of cash at 0. They have to pay distributions so the CASH position will have increased a lot, mostly due to the offering.
It was timely tho as the banks /lifecos had a big move up after OCT 31 when the offering closed. Some of that buying for sure came from LBS investing some of that 94 million into the holdings.