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.

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Premium Income Corp > Who is paying near double of NAV today ?

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Comment by navgodon Nov 18, 2020 2:49pm

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Post# 31923950

RE:Who is paying near double of NAV today ?

JohnWalker wrote: Last report of NAV (from Nov 12th) is $2.13. MAYBE it's at $2.50 today if you're lucky. Who the hell is paying $4.35 for this pig ?

Will wait to see what reported NAV is on Friday morning and may put on some shorts on this puppy.

The answer is people who are blinded by the fact this thing pays a distribution dispite at times an almost nonexistent NAV. As a pref holder it pisses me off. That said unit NAV vs unit price is not out of line so a short on the capital shares isn't advisable. ps don't think they report the Thrusday NAV until the weekend.

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