FTN UNIT NAV to Nov 11 =$18.75 Premium now at 34 centsChallenge anyone to find a split fund common shares with nearly 4 $ of safety trading at a premium of 3.88% and still paying 16.5 % yield.
I doubt you can find one even with a lower yield trading at a premium of 14% or lower.
Chances of FTN doing an offering here is nil and next to none. They cannot be dilutive to existing shareholders, so that is why they do offerings usually at a large premium like 15% at minimum and even up to 25%.
FTN has a long way to run yet. My biggest holding by far , but i did use some of the cash i had left on hand buy FFN today, and sold it late in the day for a nice gain, and bought BK again.
What a terrific week to be in the market. Made it a lot nicer to get the distributions yesterday , over 2000$ for the kitty.