Once again yesterday I chose to do a bit more selling of positions and added to one position.
I sold the following positions—2 were ‘trims’, but I sold the entire GAMCO position.
Affiliated Managers 5.875% baby bonds (MGR). The price was $24.96.
Entergy Texas 5.375% preferred stock (ETI-) at $24.40.
GAMCO Natural Resource Gold and Income 5.2% perpetual (GNT-A) @ $23.87.
I added to my position in the XAI Octagon 6.5% term preferred (XFLT-A) @ $25.02–this matures in March, 2026. This issue keeps trading down below $25 so I also have a GTC order @ $24.85 to buy more.
For the time being that should be all my selling–we will see where interest rates head before making further decisions, although I will be looking for issues trading at or below $25 that mature in the next 6 months–hiding spots for money at rates above CD and money markets rates.
I have not had the opportunity to update my ‘holdings’ page yet, but will get it done yet this week.
Tim.
Birds of a feather… Dang it Tim, how am I supposed to buy XFLT-A on the cheap when you spill the beans?
Just a little humor because I am sort of kidding. Luckily I have been buying earlier this week and now see no need for additional shares.
I sold my position earlier in the month when the price was about $25.25 sh. When XFLT-A started to price under par I bought back in.
Sorry NWGG—not trying to ruin your ‘fun’.
has XFLT-A announced a call in january? I haven’t heard. shows maturity of Feb 2026.
I don’t see anything about an announced call.
Term Redemption. The Trust is required to provide for the mandatory redemption, or the Term Redemption, out of funds legally available for distribution to shareholders, of all of the 2026 Preferred Shares on March 31, 2026 at a redemption price equal to the Liquidation Preference per share plus an amount equal to accumulated but unpaid dividends thereon (whether or not earned or declared but excluding interest thereon) to (but excluding) the Term Redemption Date, which we refer to as the Term Redemption Price.
You are correct 2wr–was looking at the wrong issue.
Hi martin–sorry I was looking at the wrong issue–but just the same anything under 25 is a good price.