Well, it was the year target price of $20 for SFL vs. $10 for EGLE - the fact that analyst prefer Finance - as well as the dividend... plus the dilution factor.. figured I could make about 5% on the div for the quarter in a day, plus 5-30% upside on the stock.
Hopefully you made some profits here....
As far as SFL, I'm not sure it is a good strategy to jump ships for 30c of divs. You can make 30c in less than 30 minutes over here... Dividends are good when the markets work how they are supposed to. With the current volatility in shipping, you can easily jump on a 30c run on many of the stocks.
PS: I own SFL too (underwater of course)
Me too - unloaded everything & jumped into SFL - Ship Finance rated better, more of an upside on the year target est and no pending dilution (figure with the offering EGLE might be worth $6/share after they sell the extra 62%) AND - today is the last day to buy for a BIG FAT DIV of 30 cents a share - 19% yield(tomorrow ex div date)
Overall, a good company. I bought calls on it mainly for the volatility. I had stock before and sold it at $28 for a small loss.. thank god. I think I might buy some for the short time if it doesn't rise above 6 by week-end
too many buyers today
every time theres a decent sized ask it gets taken out
18k gone at 4.28 --- they just keep buying, and why not , a $3-4 stock just made 32 cents / share in a disastrous q4 2008