Monday, November 9, 2009
Beyond Call Date List
I'm finding that the symbols for a lot of these issues just don't show-up anywhere other than the NYSE link that Doug provided. I can't find them on YAHOO Finance, TDAmeritrade or any of the other trading platforms I use. Is anyone else having this problem?
3 - Click To Post Comments:
Hello Carl-
For those reading this blog that are not subscribers to the CDx3 Notification Service, what Carl is referring to is a catalog of preferred stocks that subscribers have access to that shows every CDx3 Preferred Stock issued since January 2001.
Since CDx3 Preferred Stocks have a five year life span (IPO date to call date), many of these preferred stocks are no longer trading (i.e. they have been called).
Back to Carl's question: When you click on one of the trading symbols in the catalog, your browser will go to NYSE.com for a price quote. If NYSE provides you with a quote, the issue you clicked on is still trading, otherwise it is not.
If you are saying that you can get a quote from NYSE.com through the subscriber's web site, but not through your broker, then you should contact your broker and ask them about it.
Many Happy Returns.
Many of the issues on the list will not give a quote when I click on the symbol. One example: D-A.
Have some of these become so illiquid that they have effectively stopped trading? What would cause this to occur?
Hello Carl-
You are referring to the "Beyond Call Date" list of former CDx3 Preferred Stocks that is provided to subscribers on the subscriber's web site.
Every CDx3 Preferred Stock has a five year life span (IPO date to call date). Once the call date arrives the issuing company regains the right to call (buy back from you) your shares.
This is a list of preferred stocks that have exceeded their call dates and, as noted in the heading just above the table, several have now been called.
D-A was issued by Dominion Capital on January 11, 2001 and was called by Dominion on October 17, 2006.
Once a preferred stock is called by the issuing company it is no longer traded on any stock exchange; the issuing company buys all of the shares back from their then-current owners at $25.00 per share.
You can still use the Beyond Call Date table to see the prospectus and other information related to the issue, but once it has been called you cannot get a price quote for it since it is no longer trading.
Many Happy Returns,
Doug K. Le Du
Post a Comment