E Split Corp ENSPF

Primary Symbol: T.ENS Alternate Symbol(s): T.ENS.PR.A

The objective of the Class A shares is to provide holders with non-cumulative monthly cash distributions and the opportunity for capital appreciation through exposure to the portfolio. And The investment objectives for the preferred shares is to provide holders with fixed cumulative preferential quarterly cash distributions and return the original issue price of 10.00 Dollars to holders upon maturity. The Company has a portfolio comprised primarily of common shares of Enbridge Inc. Enbridge, a North American oil and gas pipeline, gas processing and natural gas distribution company the Enbridge Common Shares or the Portfolio and intends to purchase Enbridge Common Shares from time to time in the market or through participation in future public offerings by Enbridge. The Advisor believes that the Company offers investors an opportunity to gain exposure to Enbridge, one of the worlds largest energy infrastructure companies.

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E Split Corp > Sold some today

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Post by Obscure1on Feb 02, 2024 3:18pm

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Post# 35860207

Sold some today

The Premium to the NAV for the Common shares got up over 16% today so I peeled some off.

I'm concerned that Middefield might announce a Raise on Monday so that they can fill up their war chest in advance of the expected DROP in the ENB share price when it goes ex-divi on Feb 14th. If Middlefield announces a Raise on Monday the 5th, they would be funded by Feb 13th.

Middlefield, like all funds is dividend hunter so they might wait until the beginning of March to do a Raise assuming that ENS investors remain asleep at the wheel post ENB ex-divi.

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