My wife has shares in a CEF and received an email regarding her participating in an offer to buy back some of her shares.
I’m unfamiliar with this and as best I can tell they do these offerings quite often when the share price is below a certain % of the NAV. Right now the shares are about 14.5% discount to the NAV and the offer is to purchase shares back for 98% of NAV. It seems like a no brainer as the shares are trading around $19.50 with NAV around $21.25.
I would appreciate any input especially from anyone who has participated in this type of buy back.
TIA
I’m unfamiliar with this and as best I can tell they do these offerings quite often when the share price is below a certain % of the NAV. Right now the shares are about 14.5% discount to the NAV and the offer is to purchase shares back for 98% of NAV. It seems like a no brainer as the shares are trading around $19.50 with NAV around $21.25.
I would appreciate any input especially from anyone who has participated in this type of buy back.
TIA
Statistics: Posted by MGBMartin — Tue Jul 23, 2024 9:16 pm — Replies 1 — Views 190