RE:RE:RE:RE:NAV = $10.40 on September 20You need to understand that closed-end funds historically have tended to trade at a discount. It's one of the great mysteries of finance. And it has much to do with the fact there aren't very many closed-end funds anymore--relative to, say, the number of mutual funds.
But the relentless 50% or so discount of Urbana is extraordinary.
I've already mentioned one reason why the market wouldn't bid this up. The company seems to have chosen not to use the NCIB.
As I've suggested, it damages the Urbana name.
What would you think of someone who has a chance to buy $10 bills for $5 each and, for some mysterious reason, chooses not to do so? Wouldn't you think there just had to be something wrong?