Premium Income Corporation Preferred Shares

Insider Activity

Company Description

To accomplish its objectives, the Fund invests at least 75 percent of its net asset value (¿¿NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the ¿¿Banks) and may also invest up to 25 percent of its NAV in common shares of National Bank of Canada. In addition, the Fund may purchase public investment funds including exchange-traded funds and other Strathbridge Funds (provided that no more than 15 percent of the NAV of the Fund may be invested in securities of other Strathbridge Funds) that provide exposure to such common shares. to provide Class A shareholders with quarterly cash distributions equal to the amount, if any, by which the net realized capital gains, dividends and option premiums (other than option premiums in respect of options outstanding at yearend) earned on the Funds portfolio in any year, net of expenses and loss carry forwards, exceed the amount of the distributions paid on Class A shares upon windup of the Fund