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 risk in doing so – the issue matures in 2026.
Update NOTE–I actually have 450 shares left–I have a GTC sell order in on more shares. In the last few days some GTC sell orders did execute.
Locking down some profits also frees up some cash which I can redeploy elsewhere – most certainly with as much yield potential.
I will update my laundry list of holdings reflecting this change.
Note–nothing wrong with this issue–just banking a few coins and planning to reinvest at a better yield.