Research: Split Shares & Monthly Retractions

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!

3 Responses to “Research: Split Shares & Monthly Retractions”

  1. beluga says:

    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/

  2. jiHymas says:

    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.

  3. […] 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 […]

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