Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 T.EIT.PR.A

Alternate Symbol(s): ENDTF | T.EIT.UN | T.EIT.PR.B

Financial Services Asset Management

Canoe EIT Income Fund (the Fund) is a Canada-based closed-end investment trust. The investment objectives of Fund are to maximize monthly distributions relative to risk and maximize net asset value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the manager may determine in its sole discretion from time to time. Canoe Financial LP is the manager and portfolio manager of the Fund.

TSX:EIT.PR.A - Post by User

Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1

Bullboard Posts

Comment by borne2runon May 06, 2014 4:14pm

227 Views

Post# 22530806

RE:can any one explain

From an historical perspective, EIT is trading at a large discount to NAV (~16%).
For the years 2011 - 2013, the discount averaged about 11%.
The discount has widened slightly in 2014 even though EIT has outperformed the TSX Composite.

Also, some investors may be buying (or refusing to sell) ahead of the news release to confirm the warrant offering.
Ex warrant date will probably be early June - even if the NAV goes sideways for the summer and early fall, the warrants should end up in the money.
Daily and Weekly Charts look great - any short term sell-off should see decent support in the 12.20s.
Target on the weekly chart is the 200 week moving average at $13.

Bullboard Posts

Global Tungsten Market and Supply Security