Just a note that the Duke Energy 5.75% perpetual (DUK-A) closed at a 52 week low at $24.51 today. Current yield around 5.86%. Little lower and I will nibble a bit.
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Duke Energy 5.75% Preferred Closes at 52 Week Low
Nibbled some of this DUK-A as it makes new 52-week lows $24.27 today. This is me trying to diversify away from financials and banks I own a lot of already.
Thank you Tim, for the site and specifically this idea…
You’re welcome mSquare
There are several heading back lower. This one should have went lower last June to begin with is my useless opinion. On the other end of safety, PCG-A is dancing near its 52 week low, all while the non paying dividend common reached 52 week high today.
PCG-A is currently paying I think. Are you playing with fire so to speak or just observing?
No, I meant the common isnt paying, and it reached 52 week high today. Though its rumored a small nominal divi may possibly come next year though.
Yes, all PCG preferreds have been paid in full as of April, and are paying normal divi. High risk being possibly a major fire away from the “knock out” punch as the debt went nowhere post bankruptcy.
PCG preferreds are a small ball dirty preferred flip game. Actually they have done very well for me over the years. I keep it small though. Reentered with 200 at 20.20 last week, 200 more below 20.10 today. Will do one more purchase below 20 if it breaks. Then try to gain some mo on it into exD next month after its declared. Interestingly the common is up 10% past month while A is down 10%. The other floats are unreliable as floats are smaller and dont always trade in tandem with A.
It just paid out on 9/16 (ex-div 8/11) so it being lower then average is not surprising on top of the recent weakness. I was eyeballing it to add just today but decided to pick something else to add to that was a good deal with ex-div coming up in approx 10 biz days. This is not serious money. Just reinvesting incoming cash.
I would not surprise me if this becomes buyable closer to 24.25 then 24.50 in the next 30 days.
Maybe I’ll drop a ‘stink bid’ in tomorrow (or tonight even)