I like CHS Owen as a preferred because it's not a bank.
I'm holding CHSCN in my main for dividends.
Most of my other preferred shares are banks (Barclays, Deutsche Bank, Wells Fargo, etc).
It's nice to be able to get something not banking related.
Reits are the other one that have pushed a lot of preferred in the last year or two, but I don't have any mreit preferred stock now.
Either of you using Interactive Brokers?
I have OTC selected, but I can't find this one.
Quantum show this under "other OTC", so I'm also not sure if OTC covers that on Interactive Brokers??
Frustrating.. E*trade see's it no problem. Grrr.
#$%$ is going on with IB.
Weird.. I opened a ticket with IB.
They said they don't support Grey Market tickers/trading.
Which is kind of shocking to me since they are a hard core trader based brokerage.
I'll throw in an order through E*trade tomorrow.
I was looking at JPQMP vs HUSI-H (25.27) vs BAC-Y (25.21).
Very hard to tell how much upside there is since HUSI-H and BAC-Y have a slightly higher yield so in theory they should price slightly higher.
JPM-CHASE should be a more secure company. You know to big to fail. : )
I Bought some JPQMP in my E*trade.
I'm willing to toss the dice on it.
It does show up as of today in IB, but I still can't buy it in IB.
I wonder if we are in for some minor interst rate shock here on preferred.10 year has been rising quite a bit off it's recent low.
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.
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.
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 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."
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.
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.
That figures.. by the time I get online it shot way up. -- 25.02
Gonna keep an eye on it though.