Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
It looks like I won't get paid for the VER-F for a few weeks, but I'm looking for someplace to get a replacement (plus add some $ that are ready to go to work).
Can't find any preferreds in the REIT area that appeals to me, but over at the Fidelity investors forum someone mentioned a new issue from BAC, the Preferred M.
Fidelity lists it as BACPRM, but they have no details. Quantum Online doesn't even show it. According to the forum poster it is 5.375%, paid quarterly, and first call is 5 years. Price today is $24.92 and par is $25.00
Anyone have any thoughts on this, or at least know where I can get more details? I'm looking for a "sock drawer" issue that is at or under par.
Brian, if you are comfortable with VER-F why dont you just buy more of it? They are redeeming about 10% correct? The July divi will mitigate call loss and who knows when they redeem more. Its not priced too far over par.