Bullboard - Stock Discussion Forum North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount... see more

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North American Financial 15 Split Corp > Quadravest possibly buying back FFN preferred shares

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Post by mouserman on May 27, 2022 2:26pm

Quadravest possibly buying back FFN preferred shares

Noted that the preferred shares had a fire lit under them after the NCIB was announced. I do believe Quadravest would like to get the balance back for preferred/ commons.
A buyback is one way to do that. Use cash on hand to equalize the raito. Not sure why folks are so eager to buy the common shares, but can only surmise that they must be very optimistic of the future of US banks in the fund.

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Comment by navgod on May 27, 2022 3:37pm

Almost all of the split share prefs, including non Quadravest, have had a big couple of days. I don't believe it has any thing to do with the NCIB. That said as FFN.pr.a is by far my largest holding I am happy its finally got a bid. Reduced my short in FFN earlier in week in the 5.90's -- kept a third and will add to it if the market is foolish enough to bid it up to a 35-40% premium ...more

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