The monthly retraction privilege that exists on most split share preferreds is normally a joke – but in late 2008 the feature suddenly became much more interesting!
Look for the research link!
Research: Split Shares & Monthly Retractions
3 comments Research: Split Shares & Monthly Retractions
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Don’t know if this is interesting but I noticed a bid at $8.66 for 140 lots on WFS.PR.A today.
Is $3.17 really the Dec. 24 NAV for SBC.PR.A ?
http://www.bromptongroup.com/funds/sbc/overview/
Don’t know if this is interesting but I noticed a bid at $8.66 for 140 lots on WFS.PR.A today.
WFS.PR.A trading has been both strong and voluminous in recent days. I can only speculate that a big player has discovered the potential for retraction.
Is $3.17 really the Dec. 24 NAV for SBC.PR.A ?
No. Brompton reports the NAV for the capital units only. The NAV for the Capital Units and Preferred Shares combined was $13.17.
[…] 8.87% based on a bid of 20.01 and a hardMaturity 2016-3-25 at 25.00. Presumably helped out a lot by very favourable monthly retraction terms – estimated retraction price is now $21.77 based on an NAV of […]