PME NAV jumps 1.29% to 3.1538That is the highest NAV we have seen in a longtime, going back to before they cut the distributions.... the stock prices represents over 42 cent discount to NAV which equates to about
13.3 %..
Sister fund MMP.un , holds almost the identical portfolio from CI FUNDS, same manager , but pays a lower yield, now under 5.3% ( PME yield is 6.59%)
MMP.un last trade was at 2.28 with the NAV reported today at 2.446 which was up 1.278% on the day. That is a discount to NAV of just over 16 cents , or about 6.8 %. Almost exactly half of PME discount.
PME remains the better value and higher yielding fund from CI, and seems to gain a bit more in % on the up days.