Yesterday I bought more than I have in a single day in the last couple of months.
No I didn’t go ‘hog wild’, but added to 5 positions that I already had positions in and which I believe to offer the best relative ‘bargains’–although banking issues have moved up sharply so buys today aren’t as sweet as they were in weeks past.
I bought–
Bridgewater Bank 5.875% Preferred (BWBBP)
Merchants Bancorp 6% Fixed-to-Floating Preferred (MBINO)
Jackson Financial 8.00% Fixed Rate Reset Preferred (JXN-A)
Associated Bancorp 5.875% Perpetual Fix Rate Preferred
XAI Octagon Floating Rate Term Trust 6.5% Term Preferred
As always these are not recommendations, but just what I have done.
Interest coverage (most recent qtr.)
-46.8x – Mar-31-2023
Already holding the last four of those- by nibbling, for now.
Tim, I wonder if you would consider adding a table that would list your purchases by issue, price paid and date. No need for position size. I would benefit from being able to compare my trading with yours. Thank you.
Jay H — I don’t want you to really compare too much since each of us is different – I am probably more conservative than many – and maybe more aggressive than some. I did put out my laundry list of positions which I am going to post again tonight. Maybe I can add some more meat to the bone when I get a little time–I own a lot of issues and some probably 3-4 purchases times.
You bought I sold. I lightened up on my NYCB PU and EXSR This was banking some profit around a core position I hold in these ( pun intended)
I did buy some more LTSH
Not sure if it’s a single seller or just coincidence, but over the last 2 months every couple weeks a block of about 1,500 shares trade in a day.
Charles M,
What broker are you using to buy LTSH? My broker (IB) will only allow closing transactions.
Fidelity,
Also just bought a little LTSK at 15.50 Been noticing on several IPO’s that have come to market they have been listed as one of the underwriters so they as still alive and kicking. They come due in 28 and 29 so I am taking a little duration risk. I would put in a GTC order in.
Been satisfied so far with using Fido. Trying to get used to Schwab since they swallowed my TD account