Welcome to our dedicated page for Miller Convertible Total Return ETF news (Ticker: MCVT), a resource for investors and traders seeking the latest updates and insights on Miller Convertible Total Return ETF stock.
Miller Convertible Total Return ETF (MCVT) is an actively managed exchange-traded fund launched by Wellesley Asset Management to seek total return through a convertible-securities strategy. Fund updates center on the launch, portfolio focus, share trading relative to NAV, interest-rate sensitivity, portfolio turnover, privately placed or illiquid securities, synthetic convertible bonds, counterparty exposure and broader market risks affecting the fund and its service providers.
Mill City Ventures III, Ltd. (OTCQB: MCVT) has participated in purchasing two settled insurance claims, investing approximately $1.3M. CEO Douglas M. Polinsky highlighted the company's ongoing funding opportunities and its role in expediting payments for adjudicated settlements. He emphasized that the returns for shareholders from these operations are significantly above risk-adjusted returns. The press release also mentions potential risks affecting Mill City's business, including competition and changes in the economy.
Mill City Ventures III, Ltd. (MCVT) reported a record year for 2020, with revenues soaring 700% to $1.3M, up from $161,000 in 2019. The company achieved earnings from operations of $561,000, a significant turnaround from a $672,000 loss the previous year. Net asset increase before taxes reached $2.5M, contrasting with a loss of $657,000 in 2019. Shareholder equity rose 16% to $11.6M, influenced by a December 2020 dividend of $539,000. The net asset value per share increased to $1.08 from $0.91, signaling strong operational success.
Mill City Ventures III, Ltd. (OTCQB: MCVT) reported a remarkable increase in total investment income, surpassing 600% growth compared to 2019, marking a record year for 2020. The company, which has shifted to non-bank short-term lending, plans to apply for listing on the Nasdaq Capital Market to enhance investor access. CEO Douglas M. Polinsky highlighted the firm's success in lending against hard assets and quick funding. Annual audited financial results are expected to be filed on March 10, 2021. However, potential risks remain in the market.