Of the 104 new preferred stocks issued during 2012, 84 of them were distributed to the marketplace by their underwriters using the wholesale Over-The-Counter stock exchange (81%). Individual investors, armed with a web browser and an online trading account, were able to purchase these newly issued shares at substantially discounted (below par) prices.
The six new preferred stocks introduced last January, for example, were able to be purchased for an average market price of $24.97 on their first day of OTC trading; those same six preferred stocks are selling for an average price of $27.01 per share today (January 4, 2013)...
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The six new preferred stocks introduced last January, for example, were able to be purchased for an average market price of $24.97 on their first day of OTC trading; those same six preferred stocks are selling for an average price of $27.01 per share today (January 4, 2013)...
Note To Readers: This article was chosen to appear on the popular investing website 'Seeking Alpha'.
By clicking here a new window/tab will open on your screen to this article as it appears at SeekingAlpha.com.
Receive my Seeking Alpha articles by email: When viewing one of my articles at Seeking Alpha, click on the "Follow" button under my picture. You will be notified by email when I post a new article to Seeking Alpha.
Please enjoy reading this article at Seeking Alpha.
Many Happy Returns.
