Post by
mouserman on Aug 16, 2023 4:22pm
DFN unit nav loses about 1.5 cents today =$14.63
So changed my spreadsheet to the 15th as the basis for gains and losses. Guessed that our spreadsheets will remain within a penny or 2 of the Quadravest UNIT NAV tally.
Today the value of the commons would be $4.63 and the premium still very high @ $1.27 with the close at $5.90. Works out to nearly 27.5% Only split fund common below the level for paying , that gets an huge premium. FFN had the same big premium not so long ago, and now has finally settled in at discount with the value of commons getting closer to 3$ than to 4$. Patient shortsellers made big money there as well.
Comment by
AnEducator on Aug 16, 2023 5:04pm
My numbers match yours. It will be fascinating to see if Quadravest makes any announcement this week. The odds of a 2.5%+ recovery by late next week seems highly unlikely, but it certainly can't hurt to wait it out. At least it allows Quadravest to turn on the ATM selling to full blast while the opportunity still exists.
Comment by
mouserman on Aug 16, 2023 5:08pm
I suspect we will get the midmonth update on friday, as I doubt Quadravest holds much hope of DFN getting to the 15$ threshhold in the next few sessions. The fact that the selling is knocking down the share price faster than the UNIT NAV is sinking of late, means investors are starting to cut their losses and some are shortselling.