RE:RE:RE:RE:DFN unit nav to Dec 12 = approx: $14.94Larry50 wrote: I understand split share funds and the difference between preferred and class A, what blows me away is that dividends can be suspended one month when shares are trading around the $6 mark and a few months later everyone is saying the dividends may be restored if those same shares are below $5. I thought the NAV was some combination of preferred and class A share values which combined certainly don't shift by over $1 in 3 months. In mid August DFN Preferred shares closed around $9.45. Today they closed at $9.70 a 25 cent differential yet Class A shares have gone from a closing price of $5.90 on August 16th with dividends suspended a few days later, to a closing price of $4.58 today which from my perspective should make them about a country mile away from seeing the dividend reinstated.
Hi Larry this is a closed end fund, so the nav can vary from the selling price. Unit nav is made of one capital share plus one preferred. Preferred is always valued at 10, as long as unit is over 10.