RE:DFN unit nav to June 21 = approx: $14.73My calculations are just half a cent above yours, MM, at ~
$14.735, so we are in line. The discount on the shares stands at ~
$0.09 after accounting for accrued dividends on the preferred shares.
Investors need to realize that dividends on these splits is generally not sustainable over the long term. However, after any prolonged duration of non-payment, the NAV should recover sufficiently to begin distributions once again for at least a brief period of time until the NAV erodes once again. This assumes the fund managers are at least reasonably competent.
It would take extraordinary managers to be able to stem the erosion in the NAV such that the number of missed payments are minimized.
mouserman wrote: Showing a loss of 5 cents since the JUNE 14th udpate.
Trading at a discount now as the exodus out of DFN has mostly been exhausted.
Last trade was @ $4.61