Inactive ideas
Active ideas
Inactive ideas
Tortoise MLP Fund (NTG-RI) – Rights Offering – 37% Upside
Current Price – $0.40
Intrinsic Value – $0.55
Upside – 37%
Expiration Date – July 18, 2018
Reaves Utility Income Fund (UTG) – Mean Reversion – 5% upside
Current Price – $31.5
Expected Payout – $33.4
Upside – 5%
Expiration Date – 4th of October 2017
UTG is closed-end fund investing in utility sector. The fund issued transferable rights to subscribe to new common shares. For every three rights held, a holder of rights may buy one new common share of the Fund at 5% discount to 5 day average closing prices preceding the expiration date (October 4th). This created an arbitrage play whereby the buyers/holders of rights were shorting UTG common stock