Interesting. BCS-D got knocked down the he 26.25 range to.
Very similar to the HSBC prefies.
BCS-D was callable starting in 2013.
It runs as well with BCS-C which was also callable in 2013.
Thanks for posting about this.
I have not been keeping on eye on http://www.quantumonline.com
Coincidentally before I saw this I sold a bit JPM-F and ARSI-D this morning.
I'm not going to get any.
It rallied decently into the close here. Sitting at 14.34 right now.
I was waiting until the end to see if it has a minor drop at the end of the day.
Will take another look on Monday.
It flipped into the NYSE Index today
E*trade Symbol - AFSI.PR.D
IB - AFSI PRD
Still seems like a buy to me based on the C & B series price.
B series is at 25.22
C series is at 25.46
I bought another 5000 today.
Hopefully ARI busts out over 16.90. It's been close twice to doing that.
I might just sell though going into this fed meeting just to take some cash off the table.
Not gonna make much if I do that though.
If it falls between the B & C prefies.. some money is there. Not a ton of course.
But $25.10 - $25.25 range doesn't seem impossible.
Based on the yield it should slot in a little bit higher than the B series price.
Currently at this second. And those both dropped a bit on Thursday and haven't fully recovered.
AFSI-B = $24.95
AFSI-C = $25.48
AFSI-B AmTrust Financial Services, 7.25% Dep Shares Non-Cumul Preferred Stock Series B NYSE
AMSVP AmTrust Financial Services, 7.50% Dep Shares Non-Cumul Preferred Stock Series D OTOTC
AFSI-C AmTrust Financial Services, 7.625% Dep Shares Non-Cumul Preferred Stock Series C NYSE
That figures.. by the time I get online it shot way up. -- 25.02
Gonna keep an eye on it though.
Most of the time the end of the day seems best on these secondaries.
But just isn't always the case.
I just buy a lot here and there and try to average it out.
The problem with wfc-j Reik is it's callable on 12/15/2017.
I can't fathom who in their right mind was paying 29.50 - 29.75 in February.
If you held it to the call date, you make very little on it at 29.50.
You gain $6 in dividends, but lose $4.50 in share price if it gets called in Dec 2017.
I sold my long term holdings of WFC-J either in 2012 or 2013 (forget which) for over $30.
The premium over PAR was to good to pass up for me.
I can't say I've seen a prefy like this before.
Seems high risk to me.
It has a $100 strike that matures in 2018 no matter what.
But you get hosed if their stock price falls under $97
"The conversion settlement rate will be 0.8591 depositary shares per unit if the then current market price is equal to or greater than $116.40 and 1.0309 depositary shares per unit if the market price is equal to or less than $97.00."
I'm king of impressed with JPM-F.
It's not going to pay it's first dividend until 6/1 which is still pretty far away.
Something to keep in mind if you guys didn't know that.
But they should pro-rate the dividend back to Feb 4th I think, so should be around 60c or so for the first dividend.
Anyhow I wasn't sure if it would just stay flat(ish) for a while or trend up since the dividend is still a ways out.
I guess it's not ironic JMI has evaporated the same amount of share holder equity as ARR of it's highs.
JMI: $20 - $9.
ARR: $8 - $3 and change.
Jeffrey Zimmer is a fricken #$%$.
That his his 3rd mortgage reit that pays him fatty dollars while train wrecking people's equity.
ARR is a mess.
I remember when I used to flip that stock in the $7 to $8 range.
They evaporated so much share holder value. It's Ridiculous.