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.
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