Preferred Stock Investing-The Good , The Bad and The In Between 2021

[Sunset]

Quote:

Originally Posted by brokrken 3 days in a row I've had sell orders in on SPLP-A and each day I see trades at my limit but for whatever reason mine aren't getting executed. I didn't check the "all or None" box so I'm not sure how the algorithm works to decide which shares to take at that price. Any ideas?

I have seen when I have an order in for something that it will actually be trading for 1/2 a cent off from what it's showing in some places.

Could it be there are just too few buyers at that price, perhaps set your price for GTC or day+ext.

[Born2Fish]

Quote:

Originally Posted by aja8888 I picked up some more EP+C today under $50.

You stole it!!!

I like EP-C.

[DR1959]

Kinder Morgan acquired El Paso and EPB no longer trades.
So what is the plan with EP-C?
What obligation does KMI have?
I don't see anything on this.

[aja8888]

Quote:

Originally Posted by DR1959 Kinder Morgan acquired El Paso and EPB no longer trades. So what is the plan with EP-C? What obligation does KMI have? I don't see anything on this.

Kinder Morgan pays the preferred dividend and will do so until it's called (10 years or so?). Mulligan has the info on this in a thread here a while back if you search.

[pb4uski]

Quote:

Originally Posted by aja8888 I picked up some more EP+C today under $50.

+1

[bobandsherry]

Quote:

Originally Posted by aja8888 I picked up some more EP+C today under $50.

Rising rates seem to be squeezing the value of these sub 5% issues. Interesting that it's dropping under par just prior to Ex-D, roughly 60 cent dividend. So I picked up a few more shares @$49.80.

I haven't see the dividend declared but Ex-D should be in next couple of days ETrade still showing as "estimated" for payment on 3/31.

[bobandsherry]

Quote:

Originally Posted by aja8888 Kinder Morgan pays the preferred dividend and will do so until it's called (10 years or so?). Mulligan has the info on this in a thread here a while back if you search.

It's past call (2002), maturity date is now "only" 7 years out (2028). So worst case (short of BK - and I don't have that concern with KMI) is 4.75% return for 7 year hold. 7 year CD's only paying around 0.75%

[Mulligan]

Quote:

Originally Posted by brokrken 3 days in a row I've had sell orders in on SPLP-A and each day I see trades at my limit but for whatever reason mine aren't getting executed. I didn't check the "all or None" box so I'm not sure how the algorithm works to decide which shares to take at that price. Any ideas?

Ken, why are you deciding to bail? Im only recently got interested and am digging in long term gambling only that it is a viable company come 2026.

[brokrken]

Quote:

Originally Posted by Mulligan Ken, why are you deciding to bail? Im only recently got interested and am digging in long term gambling only that it is a viable company come 2026.

Mully, no alarm bells here, just trying to flip in between divies. The spread is sometimes $0.30, which is nearly a quarters worth of pennies. I've been pretty lucky doing this recently with NYCB-U where the spread is sometimes $0.50. It amazes me that there are still people out there that put in market orders for these low volume issues.

[Mulligan]

Quote:

Originally Posted by brokrken Mully, no alarm bells here, just trying to flip in between divies. The spread is sometimes $0.30, which is nearly a quarters worth of pennies. I've been pretty lucky doing this recently with NYCB-U where the spread is sometimes $0.50. It amazes me that there are still people out there that put in market orders for these low volume issues.

Ok, I see.. Guilty as charged here also...In fact I dumped all my NYCB-U when it went over $49 what last week?
I have been churning and churning on 25-50 cent movements. Though with U it was more like $4 as I have held it for a while.
I hate to say it, but junk is where its at for most of my constant flips.
I dumped about 1500 shares of PPX today (this one of course isnt junk) at 25.73. I bought most in 25.20s just a couple weeks ago. Im gonna have to redo my spreadsheet as the cast of characters have changed a lot last couple days.
They are all in my 75 or so tracking preferreds but I usually only own 25-30 at any given time.

[Sunset]

Are there any complications in taxes caused by owning SPLP-A in a Regular account ?

I know it's not got the special 15% rate, but mostly concerned about something (ex K-1 paperwork - whatever that is about) , not worried about treating it as regular interest.

[bobandsherry]

Quote:

Originally Posted by Sunset Are there any complications in taxes caused by owning SPLP-A in a Regular account ? I know it's not got the special 15% rate, but mostly concerned about something (ex K-1 paperwork - whatever that is about) , not worried about treating it as regular interest.

From Quantum:

Quote:

QUANTUMONLINE.COM SECURITY DESCRIPTION: Steel Partners Holdings L.P., 6.00% Series A Cumulative Preferred Units, liquidation preference $25 per unit, redeemable at the issuer's option at anytime at $25 per unit plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.00% per annum ($1.50 per annum or $0.3750 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is at least one business days prior to the record date). Holders of the preferred units will have the right to require the issuer to repurchase up to 525,000 preferred units (optional redemption amount) on the third (3rd) anniversary of the original issuance date of units (the optional redemption date) at a redemption price of $25.00 per unit plus accumulated and unpaid distributions in cash (see prospectus for further information. If not earlier redeemed, on the date that is the ninth (9th) anniversary of the original issuance date of the units, the issuer shall redeem all of the units at a redemption price equal to $25.00 per unit plus an amount equal to accumulated and unpaid distributions (see prospectus for further details). Holders of the Preferred Units will receive specific tax information from the company, including a Schedule K-1 which generally would be expected to provide a single income item equal to the preferred return (see page 29 of the prospectus for details). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

[Sunset]

I had read the Quantumonline statement, but here is my issue:
I have some SPLP-A in an IRA/ROTH, so I can due to the small amount, ignore the tax treatment of partnership and other tax treatments.

That might not be the same in a regular account, if someone tells me they have some similar stock in a regular account and it causes a lot of paperwork I'll skip buying it in a regular account.

Maybe I'm worried about nothing, but I don't want to spend 2 extra hours on taxes when I can just buy a different stock.

[capjak]

Fidelity Alert that AILLL is part of a Full Call......

Not happy........

[Free To Canoe]

Quote:

Originally Posted by capjak Fidelity Alert that AILLL is part of a Full Call...... Not happy........

+1

[Mulligan]

Quote:

Originally Posted by capjak Fidelity Alert that AILLL is part of a Full Call...... Not happy........

Im not seeing that anywhere, are you certain? I dont own AILLL, but I own several other sisters and I have no notifications on them. SEC filings and their website have no mention. The coming dividend was declared a while back.

[Mulligan]

Quote:

Originally Posted by Sunset Are there any complications in taxes caused by owning SPLP-A in a Regular account ? I know it's not got the special 15% rate, but mostly concerned about something (ex K-1 paperwork - whatever that is about) , not worried about treating it as regular interest.

This is supposed to be a one line income only filing so it shouldnt be onerous like a common stock K-1 traditionally is.

[pb4uski]

Quote:

Originally Posted by Mulligan Im not seeing that anywhere, are you certain? I dont own AILLL, but I own several other sisters and I have no notifications on them. SEC filings and their website have no mention. The coming dividend was declared a while back.

+1 I don't own but can't find anything... including company investor news releases.

https://www.amereninvestors.com/inve...s/default.aspx

[youbet]

Quote:

Originally Posted by pb4uski +1 I don't own but can't find anything... including company investor news releases. https://www.amereninvestors.com/inve...s/default.aspx

I do own AILLL and just spent a few minutes digging around and found nothing regarding it being called or anything about some future call intention being announced. I hope that is correct.

[Coolius]

I own several of the Ameren Preferreds. I, too cannot find anything.


Hope that Fidelity is wrong. Just have to wait and see.