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Financial 15 Split Corp T.FTN

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

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

Comment by Inglewoodon Dec 03, 2024 2:00pm
62 Views
Post# 36343385

RE:RE:RE:FTN unit nav in realtime + approx: $20.70

RE:RE:RE:FTN unit nav in realtime + approx: $20.70I don't think they could just announce major changes without it being authorized in the constatating documents. Fundamental changes like altering the dividend rate or share structure require amendments to the articles unless preauthorized, so a wild surprise is unlikely I think... this seems like panic selling or stop losses being taken out... and it doesnt take much to move the share price 10 or 20 cents.. like 50K-100K shares, which many, many retail investors hold.

Some seasonality could be in play too. According to Goldman, the week after thanksgiving is usually a down week, before December picks up steam to year end. We also got CDN bank earnings this week, and people might be taking a wait and see approach. Also profit taking going on I'm sure, there have been huge cap gains in the last month. 

Either way, I'm holding when the NAV is a dollar above the share price. It doesn't make sense to me that FTN should be dropping when others like FFN or DFN are gaining and harbour a retraction risk $5 of safety??? LIke c'mon! The institutional players aren't dumping the underlying portfolio, and they are 1000x more sophisticated then us retail folks. 

By the way, whatever happened to AnEducator? He was awesome. 
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