Dividend 15 Split Corp T.DFN

There was the dump we were waiting for

[mouserman]

Grabbed a pile just over 7$ average today, and my spreadsheet in realtime shows a loss of 10 cents since JUNE 30th. NOt sure what the sellers were looking at ... chicken littles i suppose, thinking DFN must surely going to be dropping below the level to pay to commons. Perhaps some are confused and think this is DF.... since they hold nearly the identical stocks.
I have the NAV for commons of DFN ( not DF)  at $6.22 on my spreadsheet, and there are about  8 of the 20 holdings  that are up since JUE 30th , including the biggest holding in RBC.
Stocks appear to bouncing back here  later in the day. Good luck to longs.

[Donwaan]

Thanks mouserman, it's good to know the NAV is holding up reasonably well. I bought some at $7.15 earlier today just before the price collapsed.

[Moneyman70]

Chicken littles?  More like they can see the writing on the wall and at over $7 you are already underwater.  DFN has been trading at premiums of 25% or more lately which is way overvalued. In the real world this thing should actually be trading at a discount to NAV like around $6.00 for the added risk. As interest rates contunue to rise DFN will continue to drop.  They only have an

[Donwaan]

You could be right Moneyman70 but don't you think if Russian sanctions creates an energy price spike catastrophe (to quote Putin) that the DFN NAV will benefit to a degree?

[mouserman]

Not sure if you are short or just out of touch with reality. DFN at this moment in time, has lost a whole 5 cents since JUNE 30th and the premium now is about 10% if i not mistaken. IN past times, any split that was paying in the downturn like this got a 25 % premium. Only 2 days until Quadravest does the calculation for distributions for commons, and DFN has about $1.25 in coverage. I can

[swetazo]

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