Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to Preferred Shares are to provide holders of Preferred Shares with cumulative preferential monthly cash dividends in an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 per Preferred Share on or about the termination date. Its investment objectives with respect to Class A Shares are to provide holders of Class A Shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp

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Comment by Eizenbergon Sep 11, 2019 8:14pm

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Post# 30118105

RE:RE:RE:FTN up , while top holdings down

@bychoice - I think like you. I don't care about the premium. I am trading FTN while the stock market is pushed UP in it's bubble. President Trump wants to keep the stock market HIGH and he's just tweeted (again) to report the tarifs on China... The stocks will keep moving up. This is really not a good time to SHORT, the stock market is so blatantly rigged... Just profit from it while it last before the EPIC crash that will come...

bychoice wrote: I suspect that you are hoping to scare people off, from buying FTN. The portfolio was up over 1/2% today after a rise over 1%, yesterday. If you look at the history of FTN, when the distribution is paid for several months, FTN share price is between $8 and $10. For whatever reason, the "premium" is irrelevant. Consider the $.125 distribution..........on a $10 stock, that would be 15%.........cannot argue with the risk/reward consideration.
As a shorter, you should WATCH FTN share price rise and THEN short it. If tou have already got a short position, I can see why you are telling the world to jump off.........I watched the value of FTN portfolio as it came up from the $14 NAV.. As it rose above $15, I bought 2000 shares @ $6.24. That was on the morning of Sept 9th. The market has closed for today. FTN is at $7.13.
That is a gain of almost $1800 in 3 days. I realize that that is not a great gain for the big investor, but it is quite substantial for me. ALSO, since it seems that the NAV will most likely be >$15 when the distribution is declared, I will also get an additional $250 for the month
Disclaimer: I am not so naive as to not be ready for some catastrophe to hit the banks. I will
certainly keep watching and be prepared to sell. For the time being, I am
enjoying watching the shorters poop in their pants AND get in line to PAY MY
distribution!!