RE: Puzzled alot of fund managers take their money off the table and dont even wait for the deal to close.
Its trading much closer to the offer price than I expected. Including the distributions, from $16 there is only 2.7% upside till the deal closes. Not a bad guarantee for a 2 month wait, in whats sure to be choppy markets, but some may want to raise cash to look for other opportunities too.
I dont see anything really unusual here. I think cmq.un's trading is more unusual as its trading right at its offer price (granted, the deal, I think, is much closer to closing, but still...)
No real right or wrong answer from here. (1) Hide out in wrk and see where the markets go; or (2) take some cash off the table and redeploy as markets sell off. Both are valid options in my view.