RE:RE:DFN 9 cents lower than DFN Stoiklaugh wrote: fat fingers again? hahahaha
I see it as DFN is USD nad DF is a foreing currency... when you want to move your positions, DFN is much more fluid...
Some investors look at payout history and think that DFN will pay more frequently in the future... while I agree with you that NAV is more important on the long run...I can understand why some are drawn to DFN...
I exited a lot of DFN and am now heavy on DF but will still trade some DFN here and there...
GLTA
DF was a clone split fund introduced in by Quadravest at a much later than DFN , for what reason i dont quite understand, other than charging more fees for the same fund. Basically the holdings are identical, but weighted differently. NA was the biggest difference betweeen the 2 , and DF had it weighted much higher, so gained more than DFN the past couple of months.
DFN had a quite a few MORE years of gathering up capital at a premium to NAV in offerings, than DF.
It was not a surprise to me that DF finally caught up to DFN, as on one more than one occasion Quadravrest paid to DFN , when they didnt quite have the UNIT NAV high enough on the calculation date. It has come back to haunt them, and now are valued lower than DF. I always say history is for losers, and as far as liquidity, i dont see DF as being illiquid. They trade the same volumes as FTN.. and none complain about liquidity there. NOW LCS has a liquidity problem.. very small float there.
They did institute an ATM , ( buy at market from the funds treasury) to try and lessen that liquidity problem.