Prime Restaurants Royalty Income Fund
I had a stink bid for Prime Restaurants Royalty Income Fund (Stock symbol EAT on the TSE) get filled today at $4.17 per share.
That surprised me, since they recently successfully converted from a trust to a corporation and their dividends are set now at 48 cents per year.
Either some news has leaked out that I don't know about or some holders of this stock have gotten nervous and are selling at desperate prices.
At $4.17 per share I think I'm getting good value.
Time will tell.
In case anyone's wondering what a 'stink bid' is. It's usually defined as a limit order you have in place say for a rolling 30 day basis at a price thats well below the normal lowest trading range for the stock. It sometimes works well to snap up 'bargains' on stocks that are thinly traded.
That surprised me, since they recently successfully converted from a trust to a corporation and their dividends are set now at 48 cents per year.
Either some news has leaked out that I don't know about or some holders of this stock have gotten nervous and are selling at desperate prices.
At $4.17 per share I think I'm getting good value.
Time will tell.
In case anyone's wondering what a 'stink bid' is. It's usually defined as a limit order you have in place say for a rolling 30 day basis at a price thats well below the normal lowest trading range for the stock. It sometimes works well to snap up 'bargains' on stocks that are thinly traded.
posted by Rick | 8:40 AM
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2 Comments
