CorrectionIn an earlier post, I noted that when ENB goes ex-divi, the market adjusts the price of ENB down $0.915 which is true. However, the ENS NAV calculation for that day also adjusts. Therefore, if ENB is down $1.00 that day, the NAV for ENS would drop by less than 4 cents ($1.00 - $0.91 = $0.085 x 0.44 = $0.0374). I assume the reason for ENS adjusting its NAV the day ENB goes ex-divi is that ENS is entitled to the divi.
Unless the share price of ENB falls off a cliff without ENS following it down, we won't be seeing another Raise as the Premium to the NAV is basically zero these days.
After the most recent Raise where Middlefield used the Premium to the Pref NAV, I have incorporated the Pref prices in my model. One of the posters here mentioned in the past that aI should be using the Unit NAV which was correct. I never bothered until it became an issue which was my mistake.