Post by
mouserman on Sep 05, 2023 2:56pm
Oversold , perhaps...
FTN selling off even harder than i had imagined. I sold at about $8.75 average not so long ago, as i dont like holding these split fund commons once they get a premium of over 35%.
Not really excited about much upside potential in the banks , with downgrades on the US financial system, debt clock etc...
Comment by
Golferman on Sep 05, 2023 3:30pm
Yes it is very oversold RSI @ 11.9 if it gap's down tomorrow this will be a good buying opportunity. I think the NAV is around 17% now..... hoping it hits 7.00 tomorrow. Golferman
Comment by
Eoj123 on Sep 05, 2023 5:41pm
What do you mean, NAV is 17%, that doesn't make sense
Comment by
mtloly on Sep 05, 2023 6:18pm
They meant premium. As mouserman just posted, the assumed NAV is $16.54 meaning $6.54 per common share, which, based on the closing price of $7.52 today represents a premium of about 15% ($0.98/$6.54 aka (closing price - NAV)/NAV). Before this slide the premium was closer to the mid thirties.
Comment by
Eoj123 on Sep 05, 2023 8:27pm
Yes correct, premium to NAV is 15.7%
Comment by
FatTraderDude01 on Sep 05, 2023 11:03pm
Is this a good buy point for FTN or DFN?
Comment by
navgod on Sep 05, 2023 3:48pm
Good to hear you got out when you did! You really should take a walk on the wild side and throw a few shorts into your trading activity. Haven't heard anything from your fanboy CB69 - I don't think he got the memo about get the hell out of FTN. Well he did have a stop loss based on a NAV level LOL . As of close today no position in FTN neutral at this premium level. GLTA
Comment by
es25 on Sep 05, 2023 8:44pm
It's a 20% yield. Quadravest just posted NAV for Aug 31.