Financial 15 Split Corp T.FTN

FTN commons holding up while NAV craters

[mouserman]

With nearly every holding down today, the Premium getting very rich. Understandable that people want the high yield, but perhaps when ex divvy date comes, it will drop more than your distribution gains you. Much depends on the markets sentiment towards the banks.  I prefer to wait and see before making a jump back into this name, as there is plenty of time until ex-divvy date. This kind of market selloff there really is no safe place to hide, other than cash and Bear etfs on financials/etc...
Shorting DFN would have been the best bet...

[AnEducator]

I would speculate that a few sellers of DFN were rotating into FTN, helping to enrich the premium. Most are not as patient with their cash as you are, and are uncomfortable missing out on even one month's dividend.