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Alpine Global Premier Propertie Message Board

  • mrbbdude mrbbdude Sep 30, 2008 11:23 PM Flag

    AWP and AOD Repurchase Shares

    found this on alpinecef.com ...

    "AOD and AWP Repurchase Shares" - Both the Alpine Total Dynamic Dividend Fund and Alpine Global Premier Properties Fund recently bought shares in the open market. Each fund experienced pricing at substantial discounts to its net asset value during the recent market volatility. Buying back shares at such discounts is accretive to the Fund and shareholders. The Funds' management is committed to creating value for shareholders and will continue to exercise share repurchases whenever it deems appropriate. This is allowable under Section 23 of the Investment Company Act of 1940.

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    • The press release is dated Sept 8 If they bought them before Sept 8 they found another thing to lose money at least 20% on.

      It makes sense since they were looking for undervalued stocks that pay a high dividend.

      I doubt they bought very many because the effect is to reduce the shares outstanding which may help share price but doesn't increase the total market cap which is what Alpine makes money on.

 
AWP
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