Stock rallied at the close to be up for the day, after spending all day being down almost a buck a share.
Some of the former-preferred money, that is probably sitting on the sidelines waiting for a pullback, may have come in at the close.
I think the stock stays strong for a while, as there seems to be more such sideline money than there are sellers. Most of the people in this stock are income investors. And, if you sell, what are you going to do with the money to replace the yield? And, on top of that, who wants to pay taxes on the capital gain?
My guess is we won't see much selling until maybe after the end of the year.