ESR, the below link is an excellent background primer on preferred stocks without going into details yet of what to buy or how to buy.
If you ever decided to consider purchasing any, you would want to play around with Quantomonline. You can type in company ticker symbols and then it will list any preferreds with ticker symbols that the company has. It gives a brief thumbnail description of issue and usually a link to read the prospectus of the issue.
Not all are there though. I stumbled unto a little honey hole in my local utility yearly annual report and found a tiny issue that rarely trades (17 months since a 100 share block traded) and has a BAA2 investment grade rating as a preferred. I was patient and fortunately snagged a bunch of them yielding me 7.2%. It will be my heirs problem to figure out how to sell them if they never get called and I doubt they will since the company owns 96% of them from a previous merger and never bothered to call them years ago.
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