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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Bullboard Posts
Post by tinman8on Feb 04, 2011 11:25am
363 Views
Post# 18075798

BNK - the darling of day traders -

BNK - the darling of day traders -

Not too big not too small - Once the SP broke above 5 bucks quite some months back BNK was ripe for day trading.
Lots of liquidity - yet small enough market cap-  that a fairly large number of buys and sells of 5000-10000 -20000 bucks could create the momentum (up or down) - to make some nice day trading money.

This 'play' is especially relatively risk free during the weeks between company news announcements. Sooner or later it will come to an abrupt end - potentially costly for those on the wrong side of a trade - whenever the company makes a major announcement (buyout or greatly improved PP etc)

By the way - I'm not necessarily against this sort of day trading - its all part of the game after all - and I confess to doing it myself at times.
I am simply presenting a possible scenerio for the sort of pattern we have seen for some time.   
GLA
 

Bullboard Posts