Below are the details on the new mREIT Ellington Financial (EFC) fixed-to-floating rate preferred. As usual to me seems like a meager coupon at 6.75%.
The pricing term sheet can be found here.
Nomad was right on this one Wednesday afternoon.
Ellington Financial Inc., Prices Fixed-to Floating Preferred issue
One thing I have noticed at td ameritrade. If you buy using the grey market symbol, they still charge a commission
not really a factor if your buying a large quantity. But if your buying a small position which I sometimes do, you have to factor in the grey market price versus waiting to get the free commission option
bob
Bob, it really isnt boldly advertised, but ALL OTC issues are still paying the $6.95 basic fee structure. Only exchange traded issues are free. I remember Ed Jones nard kicking me for over $100 30 years ago, so for me $6.95 is free! 🙂
trading at 25.26. Don’t know enough about them, first reaction is I don’t want this one above par.
Martin G–seems like a skimpy coupon for this one and like you would only have any interest whatsoever unless at a discount.