Jun 23: SBC is down 7% intraday, making it the worst day since 11 Jun 2020 when compared to daily closes. However, in terms of intraday drops, it is the worst since 2 May 2022.
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NAV on Thursday morning is apx $9.87.. Almost $2 premium
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shorted another bunch ( and bought BMO has a hedge).. Trading at $1.70 premium
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premium up over $1 again this morning
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SPY falls past May lows, and this still well above May lows and trading at a premium. Wow.
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NAV of split shares continue to degrade.. LCS, one of the other brompton funds have dropped below $5
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by my calculation, NAV around $11.63 ( monday 11:23)
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Shorted more today... NAV down 3c currently, but was able to short at market price 2c higher than Thursday.....
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almost 10% premium now.. Probably most I've seen...
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The Company is pleased to announce that class A shareholders of record at the close of business on December 14, 2021 will receive 25 additional class A shares for every 100 class A shares held, pursuant to the Share Split. Following the Share Split, class A shareholders will continue to receive the currently targeted monthly distribution of $0.10 per class A share. As a result, the Share Split will result in an overall increase in the dollar amount of distributions to be paid to class A shareholders by approximately 25%.
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Do note, that the majority of the payout on the class A shares is ROC... Check the web site !!! For 2020, only 16% of the distribution was actually income !!!!!!!!
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shorted more at over $1 premium...
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Today's price action shows how the stock price can't get ahead ahead of NAV to much... Stock drops 25c, yet the NAV increased by 6c......... Stock currently at 16.12, and Nav at 15.90... More weakness in stock price will happen unless underlying NAV increases...
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Has anyone received their extra shares yet?
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As of close Wed evening, the Class A shares trading at a slight discount again to NAV....
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Just shorted a pile of shares. SBC NAV near 12.80
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Just started a position here.......... I believe its still trading below nav and looks very solid to pay out..
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Investors of SBC should know, due to the share split, they will have 25% more shares, but the NAV per share will drop by 20%: 1.25 x (1 - 0.2) = 1.
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dumped all shares over past 3 days.. trading at an unusual small discount
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just traded at a premium to NAV !! wow, that hasn't happened for a long time
For 2020, only 16% of the distribution was actually income !!!!!!!!