Added again todayBought 2,600 on a partial fill earlier in the day at $10.65. I was feeling pretty smart as the price moved up to $10.95. Then the market showed me once again who the boss really is as the price dropped back down to $10.67 at the close. So much for ENS investors digging in.
The model predicts the end of day NAV to be $9.40 which includes the $0.01 hit every Monday.
With ENS closing at $10.67, that puts the premium back up to 13.5%.
I'm not loving being down on my investment in ENS, but my cost now yields 13.2% as long as ENB doesn't drop down into the low thirties. Buying at current levels yields 14.6% on the purchase. At some point, clear thinking investors will buy up all of the shares from weak hands and life will return to normal, whatever that is now days.