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

Big Banc Split Corp

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Comment by rehsifylfon May 04, 2011 11:32am

217 Views

Post# 18528840

RE: RE: RE: RE: Anyone else buying

God for you - what comes first $7.5 or $8.5? There is no rush to exit this stock. Volumes have been well below average all the way down.

The conspiracy theorist in me suggests that this was coordinated hedge fund attack on commodity stocks - with cooperation from the big institutional holders in an effort to start closing out positions. The timing at the start of the month will allow the funds to quickly drive down prices on relatively low volume, cover and get out before the prices recover at month end.

I picked upsome copper fox at 1.94.

Call me dumb, but I think we'll close above $8 today on some more short covering.

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