RE:RE:RE:RE:FTN unit nav TO OCT 26 = approx: $15.60As far as the yield etc go, FFN.pr.a should already be at 10$. I would imagine it will happen in DEC when the payout gets hiked to 7.917 cents monthly , which is higher than the FTN preferred payout of 7.70 cents monthly.
But at the moment FTN looks safer , with more room above 10$...
If FFN unit nav falls below 10$ , the commons are worthless and another consolidation happens. The preferreds may lose in that deal if the fund gets terminated. Commons would get nothing and the preferreds would get what is left.