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Altera Infrastructure Preferreds Zoom Higher

I see that the 3 preferreds from Altera Infrastructure are moving strongly higher today.

The move higher is on an announced open market buyback of shares as they have been trading down in the $14/share area. Altera is the old Teekay Offshore which is now owned by Brookfield Business Partners (BBU)–part of giant Canadian asset management firm Brookfield

All the preferreds are now trading up $2-$3/share. You can see the issues here.

You can read about the buyback here.

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