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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

Financial Services Asset Management
North American Financial 15 Split Corp. is a mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends, the amount of which is fixed on an annual basis and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN - Post by User

North American Financial 15 Split Corp > What's the deal with the price??
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Post by Splitfundingon Mar 27, 2024 7:28pm
219 Views
Post# 35956836

What's the deal with the price??

What's the deal with the price??Yesterday FFN closed at $5.71 then today it opens at $5.63 and closes at $5.67 But at the end of today's seassion it's shown as having a gain of $0.07 rather than a loss of $0.04 meaning the opening price was actually $5.60

Why did the price drop by $0.11 between yesterday and today? I know today was the ex dividend date but I always thought that the market price was allowed to float free from the NAV but that does not appear to be the case. But if the market price is directly impacted by the dividend why did it only decrease by $0.11 and not the $0.19 that went towards the dividends? Or is only the dividend for the common shares taken out?

In any case it's seems rather misleading to indicate the price rose today compared to yesterday's close.
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