CYS seems to be hitting resistance every time it hits 12.75. It's not running up into the ex dividend date as much as AGNC, IVR, or HTS did. Maybe a lot of people are selling @ 12.75 and buying the AGNC/IVR SPO's?
Not many more days till ex, then comes another offering.
REIK, you still long here? anyone else?
I agree with what he said below...more then that, I will have to check with the dishwasher, but he does not come on for 2 more hours.
Thanks, but I do not listen to physic readers. I live above the kitchen of a Korean restaurant. The dishwasher speaks broken English, and with all the kitchen noise and cooking clatter I can only make out about every third word or so...but the financial advice I get from the dishwasher seems to be working pretty good for now... I think he yelled up, no offering in April. We will see.
I suggest reading my post below for a contrarian view. If there is no secondary - as I predict - the share price will stablize shortly following the ex-div date at a price that is higher than the adjusted price as of the ex-date. Obviously - the big question is whether there will be another secondary. I think the tea leaves suggest that there won't be. AGNC and HTS only did the one offering at the end of Q1; CYS did 2 offerings. Also AGNC immediately deploys the proceeds of their capital raises; CYS forward purchases and CYS' most recent purchases won't settle until June or July. As I also note in my earlier post (below in this string) the timing of CYS' dividend announcement (early in the qtr) and the late ex-date (April 4) suggest to me that Mgmt is trying to send a message to the mkt; we're not doing another offering right away.
Obviously - mine is only an educated guess. One of us will be right. GLTA