5 points seems alot
LNCO is harder to short,hence the premium. i expect the gap to close in the next month. I sold my LNCO and bought LINE
I agree it's much too big a spread. Correct me if I'm wrong but in July they will both be paying the same amount of distribution. I suspect the gap will close in the next few days.
Although LNCO fell 4.58% today, BRY fell by 1/2 that.
That supports that LNCO declines are due to hammering by shorts.
Press release from April states the payment amount will be the same monthly starting in July thru March 2014.
Maybe time to buy a few hundred shares.
With other MLP'S with this structure equal or the PIK Security trades @ a discount.
LNCO is not PIK, not directly comparable to eeq or kmr