Q: What is your opinion of this? How does one find if it is trading above or below NAV?
5i Research Answer:
COP.UN is Sprott's copper trust which holds essentially all of its assets in physical copper. If we go to the website for COP.UN here, it details the NAV and market price as well as the current premium/discount. Current NAV is C$11.72 while market price is C$11.65, presenting a discount of 0.59%. The Trust has U$95.8M in net assets so it is decently sized, but it is a closed end fund. The fee is 0.50% + operating expenses. We think it is a decent option for phyisical exposure to copper.