Dividend 15 Split Corp T.DFN

Another offering on preferred shares only

[flamingogold]

Cash raised will be used to buy more of the fund's 15 holdings which should help to improve the NAV over time

https://03fd212c-7b45-4409-b290-698c20089de1.filesusr.com/ugd/78f11d_8821c86a329e4a868d841979f74d5f40.pdf

[mouserman]

I think it is quite likely that some sold off their preferred shares and bought more commons, and so the ratio of  preffered to commons is out of whack. They likley have  to keep an even amount  of each as per the prospectus..

[chessplayer]

I suspect they sold Prefs to offset them selling commons at market as per their press release a few months ago, https://03fd212c-7b45-4409-b290-698c20089de1.filesusr.com/ugd/78f11d_27f2b6127e70483eba8859a785117533.pdf They took advantage of the market willing to buy capital shares at above market value to increase the sixe of the fund which is obviously beneficial to them as they make more money

[navgod]

[chessplayer]

The ratio of Prefs to Capital shares must have gotten out of whack to the sale of capital shares out of treasury as allowed by the athe market equity program https://03fd212c-7b45-4409-b290-698c20089de1.filesusr.com/ugd/78f11d_27f2b6127e70483eba8859a785117533.pdf

[navgod]

Agreed would be nice if Quadravest actually released the results of that program ie date,amount and price, but that would go against thier minimum info policy.

[EdPaquette]

When you see the quote from the broker it shows number of shares outstanding.