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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
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Post by mousermanon Aug 07, 2024 4:12pm
219 Views
Post# 36168193

FTN unit nav to AUg 7 = approx: $17.35

FTN unit nav to AUg 7 = approx: $17.35So opened strong today, but finished with a whimper. FTN now has lost $1.22 in UNIT NAV since JULY 31 ...  FTN commons now valued at $7.35 , last trade @ $7.73 means a premium of 38 cents . Only about 5.2%. After hearing JPM CEO comments a while back and then watching Warren Buffet's recent move....not a surprise there were actors shortselling this one and others.
Read this today: Four recently filed Form 4s with the SEC show that Berkshire Hathaway's brightest investment minds have sold shares of BofA stock for 12 consecutive trading sessions (July 17-Aug. 1). Altogether, 90,422,124 shares of Bank of America stock were sold, totaling proceeds of roughly $3.82 billion.

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