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Premium Income Corp T.PIC.A

Alternate Symbol(s):  T.PIC.PR.A

Premium Income Corporation is a split share company. The Fund’s investment objectives are to provide Preferred shareholders with cumulative preferential quarterly cash distributions of $0.215625 per share, representing an annual yield of 5.75% on the original issue price of the Preferred shares; to provide Class A shareholders with quarterly cash distributions of $0.20319 per share, and to return the original issue price to holders of both preferred share and Class A shares upon windup of the Fund. It invests at least 75 % of its net asset value (NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the Banks) and also invests up to 25 % of its NAV in common shares of National Bank of Canada. In addition, the Fund may purchase public investment funds, including exchange-traded funds and other Mulvihill Funds. Its investment manager is Mulvihill Capital Management Inc.


TSX:PIC.A - Post by User

Comment by marcroberton Oct 07, 2024 12:40pm
68 Views
Post# 36256291

RE:Pullback expected PIC.A

RE:Pullback expected PIC.Ayou mean october 15 right? i am also surprised at the increase, but more about why it took so long to catch up.

the nav has gone up 80% in the last 2 months. this has nothing to do with investors bidding up the price, only with the underlying value. nav as of last week was 4.36. (2.51 in august). 

if you compare pic.a with others like sbc or cc etfs, you would see that pic did not reflect the huge increase in bank prices for several months, and is now catching up, so if it does selloff on ex date, not sure if will go down much. 

I'm guessing it will be 4.75 by the end of the week and 4.45-4.55 after distribution

the reorg also seems to be a positive, so if we resume with trading above nav, we could be back at 5, like in early 24
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