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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price 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 for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN - Post by User

North American Financial 15 Split Corp > FFN - a perfect "Learning To Short For Dummies" play
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Comment by navgodon May 11, 2022 9:08am
167 Views
Post# 34673462

RE:FFN - a perfect "Learning To Short For Dummies" play

RE:FFN - a perfect "Learning To Short For Dummies" play
amugsgame wrote: Never been on the short side of a trade? FFN provides the perfect opportunity.Why you ask?
  • the last few days show that most retail buyers have no idea how the div on split common units work. That little sub $15 NAV detail is lost on the expected yield
  • the people on this board who calculate NAV are usually +/-  a few pennies and so we know it is sub $15 at this point so no May div. Historically that means the SP will drop like a stone when this is announced since the premium to NAV ratio is way out of wack.
What this means is that you basically have insider knowledge that is publicly available (as odd as that sounds) and short side risk is as low as you'll ever see.

Only issue with your post is the limited supply of stock to be shorted when dealing with splitshares and FFN is no exception. Inventory is scarce and a buyin notice is always a risk.  GLTA
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