Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to Preferred Shares are to provide holders of Preferred Shares with cumulative preferential monthly cash dividends in an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 per Preferred Share on or about the termination date. Its investment objectives with respect to Class A Shares are to provide holders of Class A Shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav to Nov 13 = approx; $20.51

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Post by mousermanon Nov 13, 2024 4:45pm

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FTN unit nav to Nov 13 = approx; $20.51

So pullbaack end of the day in mnay of the holdings, but UNIT NAV still showing a decent gain of $1.27 since the Update OCt 31. Commons valued @ $10.51 now and the last trade @ $9.36 shows the discount shrinking now @ 1.15 or about 10.9%. I think by ex divvy date , FTN should climb up closer to a premium, altho with highly valued Preferreds , it may be only a slight discount.
At any rate a lot of upside from here if the TRUMP election euphoria continues in the stock markets.

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