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The Royal Bank of Scotland Group plc Message Board

  • taintedfud taintedfud Aug 7, 2009 9:41 AM Flag

    PGF additions

    between 7/13 and 8/6, pgf has added 565,932 shares of rbs pfd.

    in share count, rbs has made up 5.7162% of the increase, compared to a fund share increase of 5.9851%(rbs is under bought)

    however, on dollar count, the value of rbs has increased from 9.6982% of the fund to 11.5142% of the fund.

    i am interested in following this, as i think if pgf starts to bail, i will also bail.

    second, 565000 share of 6 issues purchased in around 15 trading days should have some effect on the price.(i think that's 6000 shares per issue per day)

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    • Thanks, taintedfud.

      I thought they had stopped accumulating, and that it was some other big player buying more recently.

      Preferreds bounced down just about as far as I thought they might today (I woulda been down quite a bit on paper), but they've bounced back faster and higher than I was guessing.

      I do think that funds have and are figuring out that the corner is turned (generally speaking) on financials and so they are willing to add or enter them. Especially debt and preferreds as these are still at premium yeilds for fixed-income instruments.

      I'm overfull RBS preferreds now, including the ABN's and won't be adding unless they move down a buck or two; additions will be swing trade shares that I'd move to other preferreds this Fall as RBS catches up.

      A better day here than I expected. Maybe market hysteria has ebbed. If so, I hope it doesn't turn to that irattional exuberance.



    • While Preference shares didn't have the run-up to earnings that common did, they are getting hit harder on the news.

      Preferreds are really getting hammered. At what level would anyone out there consider adding to their positions.

      Thanks for comments

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