part of the spread is explained by the PPT div of 97c declared yesterday (PDL shareholders will not collect that of course , and if PDL pay a div it will come out of the cash component ) so the premium is only about 5pct , which if anything looks on the low side with the current volatility in the markets ... I sold out of my PDL yesterday at 5.45 and will be looking to just buy into PPT on any further weakness.
PDL Price at posting:
$5.29 Sentiment: Hold Disclosure: Not Held
