Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial Services Asset Management

Financial 15 Split Corp. is a mutual fund company. The Company’s investment objectives with respect to the preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in an amount fixed by the board of directors on an annual basis. Its investment objectives with respect to the Class A shares are to provide holders of Class A shares with regular monthly cash distributions, in an amount to be determined by the board of directors; and to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per unit, by paying such holders, on or about the termination date, such amounts as remain in the Company on the termination date after paying the preferred share repayment amount to the holders of the preferred shares. It invests in a portfolio consisting of 15 financial services companies made up of Canadian and United States issuers. Its investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > Waiting on Quadravest update

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Comment by Inglewoodon Apr 02, 2024 4:18pm

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Post# 35966091

RE:Waiting on Quadravest update

I went 50% cash yesterday morning, and then decided to go all-cash by end of the trading day.. sold 65K shares of FFN @ an average of $5.54 and 55K shares of FTN @ avg of $8.07. That is my entire portfolio.. super concentrated, on margin with leverage.

Really pained me to do so, as both are trading at discounts. But when buying leveraged funds on margin... one has to be ready to jump off at the first sign of trouble. And there seems to be some trouble... Traders are now pricing in almost even odds of a rate cut in June.

The macro story for financials is overpowering the individual stories, it seems.

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