Bought some FPL yesterday @ 17.06. Had it last year for 4 months. Have had its "sibling" FEI for 2 years . At one time also had NML and CEN, all 4 at the same time.
Decided to wittle that down to just the FEI (regular acct.) Have done well with all of them trading or just holding.
X-div date is Tuesday, March 31.............I stand corrected. Got it confused with FSAM, whose news they mix in with that of FSFR.
J......you are correct. X-date is March 31. I think I got confused with FSAM.....they keep mixing FSAM news into FSFR's news feed and it can get confusing. I don't care at all about FSAM.
It might make sense to do a R/S, but there's no compelling reason it has to be done. It wouldn't create any value for shareholders (quite possibly the opposite effect). We need some positive fundamental results from the company to boost the stock.
X-div on Friday, the27th.......then switches to a monthly div. Next X-date will be 4-29 for 10 cents. Also has already declared for the late April - July X-div dates.
Read through much of the S-3 filing and much mumbo jumbo. Sounds like they're offering shares @ 49 cents but it's really hard to sort through all that legaleeze. Can anyone expand on the S-3 filing? Thanks........
Kel..........not a current holder
I held FPL for 4 months in 2014.....got distributions from Sept. - Dec.......Sept. and October were classified as 57.9333% return of capital and 42.06666% Qualified Dividend. November and December were classified as 100% qualified dividend.
First Trust has an excellent website with much good info. Can be reached through a link at CEF Connect or by Googling it.
I did a lot of DD on CHK last week as I played it for a few trades. Still sitting on the $4 bil cash from the prop sale to SWN. Much debt (11 bil +), but they are a big company. Mostly a natgas play. Oil less than 20% of production. Noticed too how it fell from the highs today. Watching and may re-enter.
NAV is published once a quarter with the earnings report, not daily like many CEFs. FSFR is typical for a BDC, even though it's more like a "Floater / senior loan" type CEF.
2014 was a messy year for FSFR what with the huge share offering and all. 2015 should be more normal (comparatively anyway) as far as dividend classifications go. Probably most (if not all) should be ordinary income.
Div grabbers (like me) are starting to get in place for the .30 div which goes X on Friday, the 27th. You hold the stock at Friday's open, you get the div.
What's unusual is that FSFR then switches to a monthly and you can start getting .10 per month at the end of April (X div that div on 4-29).
Already have my shares, but just might add more this week if we get some unexpected weakness.
NAV (net asset value) on Dec. 31 was $12.53 per share Now at a 13%~ discount to NAV with an 11% yield.
I hold ETW in both my regular and IRA accts. Nice monthly income producer. They do have a portfolio mix that is considered Global. Just got a report dated 12-31-14. Shows portfolio is 55.5% US and 11.6% UK, 11.1% Japan, and others 6% or less each, mostly in Europe.
They write INDEX call options against most of the portfolio, mostly in the near month, and then roll to the next month and so on. Value of the CEF will likely decline over the long term, but the monthly divs are sure nice. There are many others similar to ETW, with slightly different nuances.
I also have some SLVO that holds SLV (silver ETF) and writes month to month calls on that position. Also pays monthly, but the div can vary widely from month to month.
Don't put too much of your mix in either one of these, maybe 5% maximum, at least in my opinion.
Holding a very small position. Haven't bothered with that board in awhile. Bunch of nuts mostly. Will keep taking those monthly divs though.
Wow.....14 thumbs down. I guess I'm the second most hated man in America, next to Obama. He deserves it, I don't. My Grand Daughter thinks I'm a wonderful person :).