Preferred Stock Investing-The Good , The Bad and The In Between 2015 - 2020

[capjak]

CNLPL still had some dribbling selling going on today so I bought 100 more shares of it at $52.82. I have a tendency to play around with higher yielders then quickly bail out. Sold out my modest JCPenny issue at a 50 cent profit per share and flipped the money into CNLPL. My only "yield flyer" that is not investment grade is OSBCP now and it has been doing well now for several years. So my list now is... AILLL/AILNP, CNLPL/CNTHP, DTZ, KTH, KCC, OSBCP, CVB,MNR-A, and UEPCO. Recently sold my BGEPF on the run up. I am buying an Ag mutual fund monthly so I don't need it as an individual issue anymore. Looking to buy a little bit more, but cant get what I want at price I want, so may change gears again....Or just buy more CNLPL since it has been the easiest to snag lately.


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I picked up 400 CNLPL @ 52.90 last week

 

[Texas Proud]

CNLPL still had some dribbling selling going on today so I bought 100 more shares of it at $52.82. I have a tendency to play around with higher yielders then quickly bail out. Sold out my modest JCPenny issue at a 50 cent profit per share and flipped the money into CNLPL. My only "yield flyer" that is not investment grade is OSBCP now and it has been doing well now for several years. So my list now is... AILLL/AILNP, CNLPL/CNTHP, DTZ, KTH, KCC, OSBCP, CVB,MNR-A, and UEPCO. Recently sold my BGEPF on the run up. I am buying an Ag mutual fund monthly so I don't need it as an individual issue anymore. Looking to buy a little bit more, but cant get what I want at price I want, so may change gears again....Or just buy more CNLPL since it has been the easiest to snag lately.


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Why would you have UEPCO It's yield is 3.26%...

Heck, even if sold at par it is 5.5%....

 

[Mulligan]

Why would you have UEPCO It's yield is 3.26%...

Heck, even if sold at par it is 5.5%....

That isnt its true price....some 2 share computer bot purchased that. I bought at par 5.5% $100.... Call price is $110... It is one of those extreme illiquids I buy that avoid market carnage. Its part of Ameren. I trust Ameren and am very familiar with it. I only have 50 shares of it, one of my small holdings that I will just keep. I had 5k laying in the bin one day and on a rare day the bid price was priced to sell I obliged them. Not a purchase that will bring me out of poverty, but I wont sell it either.

 

[Mulligan]

I picked up 400 CNLPL @ 52.90 last week

If the investing world hadn't created the words "portfolio diversification", I could think of worse investments than having all of ones money tied into an investment yielding over 6% and covering preferreds dividends by 50 times in a regulated monopoly environment. Long live CNLPL!

 

[Coolius]

I have some funds coming from a bond maturing next month; and with few good choices out there, might jump into CNLPL/CNTHP for more.

Hard to find good values in this elevated market nowadays.

 

[Sunset]

Just bought 100 CNLPL @ 52.67 today.

I had another order via another brokerage for 200 at the same price and it remains unfilled...

Sort of random I think.

 

[Coolius]

Just bought 100 CNLPL @ 52.67 today.

Nice. makes it fun when you can grab shares at a below current market price.

The last trade was at $53.25, so you have a nice gain already. Think I should follow you on those GTC low-ball orders.

 

[Running_Man]

Bill Gross on CNBC today recommended PFF as a very good investment @ nearly 6 percent yield as he feels banks preferred stocks are a good value at this point in the market. WFCPL just continues to go up and now is up to $1237. It is up nearly 5% since I bought it, but the BGEPF has been outperforming the stock and is up nearly 12% from my buy point. CHSCM from buy point is up 3.5% Since that same February buy point PFF is up 2.5%. It may be due to the realization that lower rates may be here longer term and people are buying issues that can’t get called away anytime soon and lock in a decent yield. In any case the preferred stocks are indicating that a rapid increase is not to be feared

 

[Free To Canoe]

Just bought 100 CNLPL @ 52.67 today.

I had another order via another brokerage for 200 at the same price and it remains unfilled...

Sort of random I think.

Congrats. Got 200 today at 52.90. I should have went market instead of limit.
Had a order in for AiLLL. Snagged 75 at 26.06 last week. I got tired of waiting to fill the rest of the order and cancelled.

 

[Mulligan]

Just bought 100 CNLPL @ 52.67 today.

I had another order via another brokerage for 200 at the same price and it remains unfilled...

Sort of random I think.

Good buy, Sunset...The low trade of the day and only one at that price. I saw it hit and though I dont need anymore decided for a shot at $52.68 right after trade...No action for a few minutes then bidders jumped me and price went back up.

 

[Mulligan]

Bill Gross on CNBC today recommended PFF as a very good investment @ nearly 6 percent yield as he feels banks preferred stocks are a good value at this point in the market. WFCPL just continues to go up and now is up to $1237. It is up nearly 5% since I bought it, but the BGEPF has been outperforming the stock and is up nearly 12% from my buy point. CHSCM from buy point is up 3.5% Since that same February buy point PFF is up 2.5%. It may be due to the realization that lower rates may be here longer term and people are buying issues that can’t get called away anytime soon and lock in a decent yield. In any case the preferred stocks are indicating that a rapid increase is not to be feared

Bill has mentioned the preferreds a few times this year and wisely so. He cant bother to waste his time mentioning illiquids so I see why he prefers PFF. But my thinking is I can get better quality issues at higher yields without the expense ratio dragging it down. Plus I dont like bank non cum's which that is basically what that fund is.

 

[jim584672]

Scooped up a few hundred CNLPL this morning @ 52.82. WFC-L continues to rocket, almost to $1,240 now.

 

[Mulligan]

Scooped up a few hundred CNLPL this morning @ 52.82. WFC-L continues to rocket, almost to $1,240 now.

I mirrored you today Jim, buying 100 more at same price you did. I sold all of my DTZ with a quick 40 cent profit yesterday and been adding more CNLPL. My investment account has about turned into an AILLL, CNLPL and CNTHP 3 stock fund.

 

[youbet]

Has CNLPL missed a div? Last div was 12/8/15 ex and 1/1/16 pay. Next is 6/8/16 ex and 7/1/16 pay.

What happened to the first qtr div?

EDIT: Oooops. Never mind. Found it.

 

[Texas Proud]

Anybody know what is going on with OSBCP


As of now over 1.3 million shares sold today!!! Avg of 3K....

 

[Slow But Steady]

I just noticed that the dividend for the EYMXP shares I bought in early April has been credited to my account. The $205.08 looks a lot better than the $0.33 I would have gotten from Fidelity's tax exempt money market fund.

Of course, I'll have to pay 15% of the EYMXP dividend.

 

[Coolius]

Anybody know what is going on with OSBCP


As of now over 1.3 million shares sold today!!! Avg of 3K....

No idea what's going on with OSBCP. Huge volume and big jump. Unfortunately, I do not own this issue, having sold it a long time ago.

CNLPL hitting high today - last trade at $54.24. This is too high a price, hope no one from here bought. Wait for a more reasonable price of about $52.80.

Congratulations to those who bought WFC-L earlier this year. It has risen from $1170 to $1240, I would consider this as close to fully valued - the yield is now 6%. Still a better buy than the $25 issues like WFC-T, WFC-V, etc, at yields of about 5.6% or so.

.

 

[Sunset]

No idea what's going on with OSBCP. Huge volume and big jump. Unfortunately, I do not own this issue, having sold it a long time ago.

CNLPL hitting high today - last trade at $54.24. This is too high a price, hope no one from here bought. Wait for a more reasonable price of about $52.80.

Congratulations to those who bought WFC-L earlier this year. It has risen from $1170 to $1240, I would consider this as close to fully valued - the yield is now 6%. Still a better buy than the $25 issues like WFC-T, WFC-V, etc, at yields of about 5.6% or so.

.

Just bought 200 shares of CNLPL @ $52.85 at 12:30 pm EST.

 

[Mulligan]

Anybody know what is going on with OSBCP


As of now over 1.3 million shares sold today!!! Avg of 3K....

Just got back from golf course.... That is almost 1/3 of entire float traded today.... Somebody unloaded a big position....I am always suspicious of these things, but usually it means absolutely nothing, especially on up volume... Closed almost 2 dividends above par. CEO all but said they are not interested in calling in short term.... If this was a year ago, I would flip and rebuy at lower price. But EVERYONE seems to be crazing yield and it is getting harder to rebuy... So I am holding on....

 

[Texas Proud]

Just got back from golf course.... That is almost 1/3 of entire float traded today.... Somebody unloaded a big position....I am always suspicious of these things, but usually it means absolutely nothing, especially on up volume... Closed almost 2 dividends above par. CEO all but said they are not interested in calling in short term.... If this was a year ago, I would flip and rebuy at lower price. But EVERYONE seems to be crazing yield and it is getting harder to rebuy... So I am holding on....

I would think that if someone was dumping that much the price would go DOWN.... but it went up...


Edit to add.. looks like they adjusted the volume and it is just shy of 1 million....

 

[Mulligan]

Preferred Stock Investing-The Good , The Bad and The In Between

I would think that if someone was dumping that much the price would go DOWN.... but it went up...


Edit to add.. looks like they adjusted the volume and it is just shy of 1 million....

Something screwy went on. Another forum had people trying to sell when it went real high and did...But then got the transaction cancelled. Very odd and the temporary price spike too on massive selling... Somebody was obviously wanting these badly... Something got messed up too. To us though it is just one of those odd blip things and everything is fine. Odd stuff happens in preferreds mostly behind the scenes...Like one day Coolius and I both saw a 300 share transaction of CNTHP at $50 when the high bid was $53. It never moved then next day shares sold at $53... Cant be explained by me.
But today is like Christmas...My nice big dividend dumps from AILLL/AILNP/CNTHP all hit the account today...

 

[capjak]

between my pfds collected $2,181 in dividends today. Nice...

 

[Mulligan]

between my pfds collected $2,181 in dividends today. Nice...

This is a popular day huh!

 

[Mulligan]

I guess some people are thinking OSBCP is not going to be called soon or yield chasing is in full mode now as its price is way higher than I thought it would be. Its not a new issue, so it is odd that enthusiasm is hitting it....
Another day, another 100 shares bought of CNLPL. It has been very liquid lately. It must be a big unwinding of a position.....I flipped my MNR-A shares again the other day...I like to take the dividend and run, in case a call would occur. Then jump back in if the price is right after going ExD.


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[Texas Proud]

I guess some people are thinking OSBCP is not going to be called soon or yield chasing is in full mode now as its price is way higher than I thought it would be. Its not a new issue, so it is odd that enthusiasm is hitting it....
Another day, another 100 shares bought of CNLPL. It has been very liquid lately. It must be a big unwinding of a position.....I flipped my MNR-A shares again the other day...I like to take the dividend and run, in case a call would occur. Then jump back in if the price is right after going ExD.


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I think since the Fed is now talking like they are not going to raise rates that people are yield chasing right now...

That is bad for me as I did not get all of the issues that I wanted to get... I am not willing to pay up for them either... I will have to bide my time and hope they come back.