Stockhouse.com uses cookies on this site. By continuing to use our service, you agree to our use of cookies. Cookies are used to offer you a better browsing experience and to analyze our traffic. We also use them to share usage information with our partners. See full details.
I Agree
×
Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Privacy Policy | Disclaimer

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Privacy Policy | Disclaimer
Please Try Again {{ error }}

Send my password

Return to Login
SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Premium Income Corp T.PIC.A

Alternate Symbol(s):  T.PIC.PR.A

Premium Income Corporation is a split share company. The Fund’s investment objectives are to provide Preferred shareholders with cumulative preferential quarterly cash distributions of $0.215625 per share, representing an annual yield of 5.75% on the original issue price of the Preferred shares; to provide Class A shareholders with quarterly cash distributions of $0.20319 per share, and to return the original issue price to holders of both preferred share and Class A shares upon windup of the Fund. It invests at least 75 % of its net asset value (NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the Banks) and also invests up to 25 % of its NAV in common shares of National Bank of Canada. In addition, the Fund may purchase public investment funds, including exchange-traded funds and other Mulvihill Funds. Its investment manager is Mulvihill Capital Management Inc.


TSX:PIC.A - Post by User

Premium Income Corp
Bullboard Posts
User Avatar Image
(5)
•••
Comment by jammo71on Nov 12, 2020 7:54am
280 Views
Post# 31883625

RE:Quick math/comparison

RE:Quick math/comparison
unc12345 wrote: Did a quick calculation with a similar ETF.

ZWB - Canadian Banks Covered Call ETF (from October 10, 2019), down 10.5%

PIC.A - Canadian Banks collection with a "proprietary" CC overlay (from October 10, 2019), down 44%.

Over 4X the drop.  Hmmmm.....?  If nothing is amiss, I'd love for someone to explain why.  I do realize the market misprices things and it's all based on supply and demand, but this seems extreme to me.


I don't have an answer, but in looking at the two stocks above, ZWB only holds about 0.70% of the portfolio in the Call or Short position. I'm not sure what PIC is but if they generally have a higher Short position that could indicate higher risk and hence the delta in the price move.

ZWB fact sheet
PIC.A fact sheet

Bullboard Posts
Dealroom for high-potential pre-IPO opportunities