Monday, April 3, 2017

New Preferred Stock IPO’s, March 2017

The March 15 hike in the federal funds rate had little-to-no effect on the average market price of preferred stocks. There are currently 105 high quality preferred stocks selling for an average price of $25.24 per share. 41 of these high quality (investment grade, call-protected, cumulative dividends) issues are selling below their $25 par value, providing an average yield-to-call of...

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