Major price movements across the board seems to be escalating in...

Major price movements across the board seems to be escalating in PTM/BTT/PAC.
Market seems to be of the opinion that these types of investment vehicles are rapidly losing relevance .
I guess a percentage of the sellers will be chasing the hot money in resource plays . However with PTM approaching a 4 year low you would think some of these guys would be getting more than a little interested in mergers or takeovers. PTM was an $8 share 10 years ago and is now a plaything for the bot traders despite being a fairly profitable debt free company.
Always amazes me when they release their FUM they label it market sensitive 'NO'.
Management of all three seem to be caught in the headlights and unable to plot a pathway forward. PTM seems to think the answer is to buy themselves BTT seems to think the answer is to buy someone else probably PTM None of themhowever seem to be able to fix their own fundamental problems
Still at a loss as to whether this industry is shot or over sold .
I guess the question is are they good enough to reinvent themselves or do they continue to deflate.