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.

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Big Banc Split Corp > What am I missing?

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Comment by ChupacabraBuenoon Mar 21, 2016 1:53pm

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Post# 24684268

RE:What am I missing?

waitingstill wrote:
Who is selling at $1.70s when offer is $2.20 in 3 months and management is 100% behind the deal and the buyer has big bucks?! Decided to get in here just based on that. Hope nothing funny is going on...

Anyone that bought between early Dec and last Friday can sell for about a 50% gain or better (100% for some) at the $1.70s that BNK is trading at now. With a gain like that it's no wonder that some of them are cashing out now for a certain 50-100% rather than hold out for a further 25% gain that isn't quite 100% certain.

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