it's a bit of a head scratcher. I think the strategy was to increase the NTA and the gap to the SP would naturally close, but that doesn't seem to be happening (SP or NTA!!)
The conference picks haven't generated any momentum and the introduction of the 6 monthly distribution doesn't seem to have done much either.
I'm going to hold and reinvest distributions hoping for an uptick or at some stage or a fund closure which eliminate the gap. The DRP at least enables underwater holders to reduce the average cost price over time. I don't think there is too much more downside to HM1.
In the interim I'm treating it as a high yield investment with a good profit reserve, decent cash weighting and a big franking credit balance.
it's a bit of a head scratcher. I think the strategy was to...
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Last
$2.91 |
Change
0.020(0.69%) |
Mkt cap ! $666.3M | |||
| Open | High | Low | Value | Volume |
| $2.92 | $2.92 | $2.87 | $1.007M | 348.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 24780 | $2.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.91 | 8605 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| HM1 (ASX) Chart |