Post by
mouserman on Feb 09, 2021 11:00pm
FTN began trading post-consolidation on DEC 17 , 2020
And the price on that day was 9.76... so FTN shares have dropped since they began trading after the consolidation.
FFN on DEC 17 was trading at $4.30 , and today fell back to $5.38 but was over 5.50 yesterday
SO capital gains have been great for FFN , and negative for FTN, despite FTN being a much safer split fund to invest in.
Some of that due to the offering in January, but also some of that is due to poor recognition by the market, where they havent quite figured out what the value should be for a splt fund paying around 16% with over 4$ of safety coverage for the commons.
There isnt another to compare against, because there arent any that i know of.
SBC is over 5$ of coverage and also has financials, but the yield there is barely over 10% and it actually trades at a premium.
DFN has only about a dollar coverage for commons, and that is never considered a safe bet.. yet it continues to trade at over a 20% premium to NAV. Its yield is about 1% higher than FTN... but really it isnt comparable.
Comment by
EdPaquette on Feb 10, 2021 9:51am
I agree with you mouserman. Most investors don't know to look at the quadravest page or here. Instead they look at the chart shape and payout consistency so FTN will start attracting those types soonish.