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Bullboard - Stock Discussion Forum
North American Financial 15 Split Corp
T.FFN
Alternate Symbol(s):
FNCSF
North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount...
of over 5.5% annually and to pay the holders of the preferred shares a certain price 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 for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.
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Bullboard (TSX:FFN)
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•••
pickledagain
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Comment by
pickledagain
on Nov 22, 2024 1:04pm
RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.
Retraction: Should i sell or keep my shares before retraction date?
(68)
•••
navgod
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Comment by
navgod
on Nov 22, 2024 11:50am
RE:RE:RE:RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.
In that case, I guess you go with the second option I suggested. As I said if you have alternative scenario would love to hear it because one way or the other the number of pref and capital shares
...more
(59)
•••
marcrobert
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Comment by
marcrobert
on Nov 22, 2024 11:38am
RE:RE:RE:RE:RE:Don't sell FFN, buy more.
navgold,. ok that was my assumption - large number of shares for sale, don't want to move price down, i get. Many of us sold PIC.a sold before result, and shocker, price beyond consol. nav even
...more
(59)
•••
marcrobert
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Comment by
marcrobert
on Nov 22, 2024 11:32am
RE:RE:RE:RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.
in 2019, the ratio was 0.882 shares for every A share as far as i can see unless the chart is off. not sure if this has any bearing on the upcoming situation.
(68)
•••
navgod
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Comment by
navgod
on Nov 22, 2024 11:26am
RE:RE:RE:RE:Don't sell FFN, buy more.
Who would retract ?- I would and did and here is why: I was quite confident that once the retraction bid as I call it was over the discount would grow and would still be around when the NAV at
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(59)
•••
marcrobert
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Comment by
marcrobert
on Nov 22, 2024 11:19am
RE:RE:RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.
"would increase the pref NAV from 10 to 20 and the dividend threshold from 5 to 10, " isn't the pay threshold set in the prospectus. how can that change. i thought they could
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(59)
•••
marcrobert
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Comment by
marcrobert
on Nov 22, 2024 11:15am
RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.
i can't say i've studied the retraction risks in detail but can you elaborate why you submitted all your shares? Is this the default thing to do in any retraction scenario on splits just to
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(226)
•••
NoShoesNoShirt
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Comment by
NoShoesNoShirt
on Nov 22, 2024 11:10am
RE:RE:RE:RE:Don't sell FFN, buy more.
Nav up 10 cents today by dashboard, but selling price down = buying opportunity.
(59)
•••
marcrobert
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Comment by
marcrobert
on Nov 22, 2024 11:01am
RE:RE:RE:Don't sell FFN, buy more.
Precisely, good question, who would? large holder who doesn't want to be bothered selling 200k shares on the maket afraid of crashing the price? I have no idea. Are there retail holders out there
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(48)
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EdPaquette
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Comment by
EdPaquette
on Nov 22, 2024 10:54am
RE:Made money and left the table
I got out due to macro worries, but so far macros are ok. Somebody is shorting FFN and if I can get back in 10 cents lower, I will. Dashboard way up.
(5297)
•••
mouserman
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Comment by
mouserman
on Nov 22, 2024 10:24am
RE:RE:RE:FFN November 15th $18.21 Nav per Quadravest Fund Feature !!
I didnt read much into it, as it was a volatile 2 weeks for the holdings, lots of big moves both directions. SO i figured it was likely covered call action.
(5297)
•••
mouserman
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Post by
mouserman
on Nov 22, 2024 10:09am
FFN dashboard has the UNIT NAV @ nearly $18.30
Mine has it a bit higher... Dont think i will be selling at a 10% discount...
(5297)
•••
mouserman
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Comment by
mouserman
on Nov 22, 2024 9:57am
RE:Made money and left the table
I am in almost 100%, FFN and DF my biggest holds, and both have retraction option. All depends on where your average buy is,...mine are very low.
(48)
•••
EdPaquette
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Post by
EdPaquette
on Nov 21, 2024 11:54pm
Made money and left the table
Out at 7.57. Had a nice run, sitting in 100% cash
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