Trading around a core position. Sold some last week at 18.90 that I bought in the 18.60s. Dirt cheap now, almost $2 below NAV......7.1% yield, paying .11monthly.
Just added to my position @ 18.54. It's a CEF that holds MLPs. Pays a monthly dist of .11 (recently raised) for a yield of 7.1%. It's almost $2.00 below NAV, and near 52 week lows.
Also holding PER, SFY, and HK..
Just bought some near 52 lows @ 18.54.... It's a CEF that holds MLPs. Pays monthly rate of 11 cents (recently raised) for a yield of 7.1%. Almost $2 below NAV (net asset value).
Nice thing to balance out junk like AEZS.
I think $3-4 is very possible. Even after this offering, still only about 45 mil shares outstanding. That would still be a market cap under $200 million.
Kel..................bought today @ 1.0157
DUH.......But if they're losing money, isn't dilution good for LPS (loss per share)? Makes the 'loss per share' less. Same absolute $ amount of loss divided by more shares = less loss per share.
Mngt of AEZS is therefore BRILLIANT.
I hold FEI, what you might call FIF's brother. On their balance sheet they show about $56 million in deferred taxes as a liability. I'm sure FIF had the same situation with MLPs having risen and the cost basis adjusted lower on many MLPs with the ROC (return of capital) factor.
Anyway, with the cap gains being paid out to shareholders, I'd think they could reverse some of that deferred tax liability and offset part of the distribution's damage to NAV.
Sounds like a good move. I wouldn't mind if FEI did the same type of distribution.
One thing lost in all the market hype and QE talk is the fate of SAVERS, that's older people that have actually saved money and want to do low risk things like hold CDs. Remember CDs (not the music ones). Used to pay 4, 5, 6, or more percent interest and old folks held them to supplement their pension or Social Security.
Now what's out there? Shysters selling them annuities or sending them into vehicles like junk bonds and BDCs. Might be OK for us guys, but not correct for your 80 year old mother or grandmother. These people have been devastated by the QE program and not much is said about them.
Sold the TZA (@ 20.46) that I bought last week @ 20.07. Managed a 39 cent profit. Still holding SPXU that shorts the S&P 500 X 3. Cost there about 17.50, now at 16.93 approx.
The DJIA is still showing greater strength than either the S&P 500 or the Russell 3000. Much deterioration going on that the 'DOW' is masking.
Ran a 5 day Yahoo comparison chart comparing PER with SDT, SDR, and CHKR. Was a surprise to see all 3 of those performed worse than PER over the last 5 days.
PER's 95% oil production is its strong point.
Kel.........(didn't add any more)
Don't hurry to buy. Will see a price below 5.50 again, probably before the end of the week.
I was looking at some Bull ETFs for PMs today (USLV and UGLD) and also @ KGC (Kinross Gold). Didn't do anything though, but was certainly tempted.
Could be better gold stocks than KGC, it's just the one I've tracked closely for a long time.
Nice job on that purchase. I paid a little more, but I'm OK w/ my entry point. Like you said, it moves a lot, could be back in the 14's tomorrow................or get bought out for $20 .
DJIA only down about 13 points......Russell and NASDAQ both down about 1%.....S&P 500 down a little over .5%. Carl Ichan says time for the market to cool off.
Was here a few months ago and did well, although I was out for the pop to $15. Already did all the fundamental DD here, so I know what a bargain SFY is. Two things I like the most are the concentration on the Eagleford and the low price to cash flow ratio (about 2 X, which is extremely cheap).
Glad I got the chance to sneak back in with the generally weak E&P group today.