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November was not only a stellar month for commons stocks, but preferreds and baby bonds fully participated in the rally. The average $25/share issue closed the month at $21.27–which is up from 10/27/23 by $1.10/share – a gain of 5.5%. While many of us…

Below are some press releases from companies with preferred stock and/or baby bonds outstanding. Mortgage Rates Drop for the Fifth Consecutive Week Safe Bulkers, Inc. Announces a Five Million Shares of Common Stock Repurchase Program UMH PROPERTIES, IN…

With the chance to bank a near 10% gain on Hennessy Advisors (HNNAZ) 4.875% baby bonds I took the opportunity with the majority of my shares. I held about 125% of what would be my normal full position. I did keep a few hundred shares as there little ri…

Insurance company F&G Annuities & Life (FG) has priced a new issue of baby bonds. The issue prices at 7.95% and is investment grade per S&P and Fitch–both at BBB- The issue has a long maturity date out in 2053. The ticker will be FGN when…

This morning we have the personal consumption expenditure (PCE) numbers being released in an h0ur – one of the most important pieces of data. The ‘core’ inflation data and the ‘headline’ inflation number are both expected to fall a little from last mon…

Below are some press releases from companies with preferred stock and/or baby bonds outstanding. Very slow news day today. NewtekOne, Inc. Launches Newtek Accounting Ellington Financial Declares Interim Monthly Dividend of $0.06 Per Share Citigroup Ann…

Wow!! The 10 year treasury is trading with a yield right now of 4.28%–who would have guessed that Fed yakkers who had worked hard to jawbone rates higher a few months ago are now talking in the opposite direction. Of course in the long term markets an…

It seems weird that the holding which has performed the worst for me over the last year is the one I am most comfortable holding forever–well not forever, but for the time being as long as interest rates remain ‘tame’. Tri-Continental Corporation (TY)…

Lodging REIT Hersha Hospitality (HT) has consummated their deal to be taken private. Hersha had 3 preferred issues outstanding which have all been converted into a right to receive $25/share. All trading in the common and preferred shares has now been…

Financial services company B Riley (RILY) which had gotten a bounce in the last week up into the $24/share area are tumbling again–trading this morning at $18.62. Shares had been as high as $43 only a month ago. Short sellers have had the company unde…

Below are some press releases from companies with preferred stock and/or baby bonds outstanding. Slow news day today. Safe Bulkers, Inc. Announces Sale of a 2015-built Kamsarmax Class Dry-bulk Vessel Great Elm Capital Corp. (“GECC”) Extends Revolving C…

Just like most days last week stock markets aren’t really moving much at all—up a tiny amount and down a tiny amount. I guess that there are fair odds that this week will remain quiet, at least until Thursday when we will see some inflation numbers i…