Just a thought, they just closed on a deal with 1.5 million shares at $19. So maybe a few of those shares got sold today. I don't know if they were locked up, but maybe they weren't. And maybe it doesn't matter if the deal is accretive to our distributions.
The only thing I can see is that about 10 AM a sale of 10k shares was made, followed almost immediately by another sale of 10k shares. and you saw an immediate drop. There is no real news anywhere I can find and Finvis was clean so all I can see is that someone sold their shares. I would guess that the same person sold both and had to split them up. This alone would create some panic selling and cause a further sell-off. This is the only reason I could see. I did discuss with my ML broker and he concurred as to the possible reason....Hope we are correct.
My hedge buddies! Sometimes I hate those guys, but right now, I like them!
This is not a hold forever stock. It is 3-5 years hold. 10% yield is the goal. The yield is too low at the moment to continue buying up more shares for them. It's a simple process, sell from 1 account and bid from another. Price goes lower and lower.
Don't sweat it too much, take the yield from this for at least 3 years!!! Unless you bought in the 22-23 range...then you might not make much. Ends up being 34% yield in 3 years if you got in under $19.