The volumes an A & B are pretty low.
So I am probably not going to hold onto C for to long.
Will try to exit out before the volume starts drying up.
I grabbed 2500 @ 24.90.
I would bid lower, but I never seem to have any luck filling orders on E*trade if I bid to low on gray market shares.
Thats an interesting move by the big buyer.
I wonder if he wants them to get called on 6/1/2016.
Even if it gets called, he still gets 3 dividends for $1.38 plus $25 a share so he locked in a profit.
yeah it looks like this fed rate hike decesion after the jobs numbers came out last week hit the preferred pretty good.
In my opinion, they needed to come down in price anyway.
Prices were frothy after the recent run up span they had.
I'm starting to worry about my holdings.
It got walloped again today.
DKT 26.61 -0.44 (-1.63%)
I need it to find a floor soon.
yeah, the new CEO did some kind of write off of around 6-7 Billion, s h a y t e canned a bunch of execs, and said the dividend will be suspended for a year or two.
The prior CEO left a few skeletons under the rug the new CEO had to clean up.
I don't think there is any imminent credit risk at Deutsche Bank.
The preferred was trading in the mid 28's before the CEO did his house cleaning last week.
It was trading on par with Wells Fargo WFC-J preferred.
I think what happened 6 days ago has created one of those "uncertainty" events which might lead to a good opportunity to flip the preferred.
It's just a matter of trying to predict the bottom and getting in for the flip.
Or i could be completely wrong and the prefy dividend will get suspended.
I'm screwed if that happens. I have 1200 shares of DKT from 2009 on the cheap.
Any of you guys follow this one closely?
It's been getting hammered.
I know Deutche Bank suspended the dividends on their stock, but I believe the preferred is fine.
It might be a good flip stock at some point since it's taking a beating over the past few days.
DKT can't be redeemed until 06/2018. So there is still a lot of time left on that preferred.
I sold 2000 just now for 26.21.
I tried for a little higher but wasn't getting any nibbles, and finally just came down to the ask price.
I'll have to look at the conversion rule.
I'm just looking at this now.
Kind of crazy it has call/mature for 2018.
I don't follow Kinder Morgan at all. Are they just needing to raise money to get through the energy cycle right now?
Yeah, SOJA is a champ. 26.09 today.
Probably going to sell soon.
Big thanks for mentioning it. I would have missed it.
"SOJA is showing on Quantum, take a look"
Ahh crud. I usually only look at the preferred stock tab.
I see it now under traded income securities.
I guess I need to start using that tab instead.
If you guys don't mind me asking, how do you find out about the jr. subordinate offerings like SOJA?
It's not really a preferred stock, and doesn't show up on the prefy boards like quantumonline.
I'm just curious how you guys found that one.
This prefy run up caught me off guard.
I guess the interest rate fears must have really subsided or something is going on.
I feel like I didn't back up the truck enough on this run up for flipping preferred.
Every time I see the price of the recent WFC-V offering I want to kick myself for not buying more.
Getting close to $26.
I did nab 3000 of SOJA @ 25.45.
Again with that one I should have bought more.
Trading at 25.81 now.
Sounds like you guys did really good since you were buying on the first trading day.
Haha.. SOJA can stop paying the dividend for 40 quarters (10 years).
At least it's a solid company, but the buyers of those junior notes will get thrown under the bus if anything ever went wrong at southern company..
Ack.. I haven't been on the forum for a few days.
I missed the best prices.
Its at 25.45 right now.
I may dump SCHW-C since it has had a nice run up and take the cap gains, and buy this.