This morning I saw the first of the downgrades following the announcement that the distribution will be suspended (Hilliard Lyons.)

I wonder how many institutions were holding FUN in high dividend/high yield funds? You might see some real fireworks now that FUN's big yield will be gone. Most high-yield/high-dividend funds are required to sell any holdings which drop below a yield threshold set by the prospectus.

25% of the float is held by institutions; not an insignificant number. One might ask "Are there enough new buyers to soak up (potentially) 14M units, and how low does the price have to be before they will they bite?"

FUN will become a company with negative (real) enterprise value, a mountain of debt, zero yield, and a big headache when it comes time for investors to file taxes... Not exactly an easy sell.