You mean an un-rated debt, that is so risky it had to pay 10% interest, and just had a secondary public offering of it last May, at a 50% discount? I don't think so, Tim. The market has already determined the interest payments will be suspended soon.
I actually did try to place a limit buy order, online (Scottrade). Apparently, online trading has been suspended for MCEP at Scottrade. You must contact the local office to trade now. What up with that?
This is still an MLP is it not? The whole purpose of MLP's is for income, through (hopefully) stable distributions. Any bump in share price is gravy. Who's going to invest in an MLP that does not have distributions.
Yup, look what happened to the price of ESCRP when they suspended the distribution. It had paid like clock-work since 2007, and was always trading near or above $25 (par) until last year.
I own some of the 878742AW5 teck bond. I was expecting the simi-yearly intrest payment to hit my Scottrade account yesterday (7/15), but still nothing there yet. Is there a delay due to it being a foreign based company?
It's to the point now, where you might as well ride it on down just to see what happens. It's hardly worth the peanuts to sell now. I'm thinking this thing is going to $2. Maybe a rumor of a buyout could happen, and pump it up to where you could get 1/2 your money back.
I have held various shipping stocks over the last 6-7 years, TNK, KSP, DHT, NAT. I just unloaded my last of NAT yesterday, for a tax loss, which completes my exit from shippers. Capital losses on all of them. I have had nothing but miserable results in this sector since 2009 or so. I'm done with shippers. My take on them, is they have zero innovation, and just simply sit on their hands waiting for the rates to go up, so they can make a profit. When rates tank (no pun intended), and stay low, they have no alternate means to make profit.
You just bought AGNC at $20.88 3 hours ago? It closed over 7 hrs ago at 21.02, and is up even more after hours. YOU LIE!
This thing (Preferred) has gone from 6.81 to 17.67 since late-January. The suspension must have caught the market by surprise. Was not already "baked in" to the price, apparently.
No piper cut here. My GAUCX is in my ROTH. I can get out any time I want, and not sweat the tax nightmare.
You mean the PSEC that has dropped from $10.98 to $8.60 in the last 6 months, while cutting their dividend from .111 to .08333? The FSC that has dropped from $9.86 to $7.09 over the last 6 months, while cutting their dividend from .092 to .06 and eliminating last months' divy completely? I'm sensing a pattern here. Doh!
" At least the subordinate period lasts longer". Exactly. It's a good thing. Delaying the wells keeps the common's distribution from getting halfed, that much longer. The piddly 8 wells will not bring in that much income.
Good point. I actually own GAUCX at a $4.85 entry point. Even after a split, I'll still be getting 8.6% yield. It's in a ROTH, so I have no "cost basis" to consider, when I decide to exit.