Life & Banc Split Corp T.LBS

Alternate Symbol(s): LFBCF | T.LBS.PR.A

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for growth in Net Asset Value per Class A share. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.

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Life & Banc Split Corp > I keep raising my ask on LBS to above NAV

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Comment by mousermanon Nov 18, 2020 2:04pm

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Post# 31923620

RE:RE:RE:RE:I keep raising my ask on LBS to above NAV

JohnWalker wrote:

mouserman wrote:

JohnWalker wrote: LOL ... I keep lowering my offer on just a few more (I already have 20,000 @ $5.38) as the noon hour panic sellers have sold it down by $0.15 in the past half hour.

Yes , it could be traders, as they use TA , as compared to value and fundamentals.
So do I, but with a split fund high yield stock that has every stock in the fund up , i NEVER SELL AT A BIG DISCOUNT....
lotta newbies out there that have become traders ( are now unemployed ) and are still learning.
When Brompton announced the NAVS for their funds on friday.. LBS should get a nice rerating, and some panic buying to get in on the distribution.
Panic sellers, why? Because every stock in LBS is up today?

I probably used the wrong term describing them as "panic sellers". What I notice very frequently that during the noon hour there are strong movements either up or down. What I think it is is the day traders who are at work checking in over the noon hour and re-acting to what they see. With prices closing at $6.12 yesterday and them seeing it move up to 6.35 this morning they see a quick profit of $0.23 and sell to capture it. Within minutes they moved it from $6.35 back down to $6.21.