Entergy Texas Preferred Opens Strong

As I expected the new 5.375% preferred from Entergy Texas (OTC:ETREP) opened strongly in the $25.25 area and is now trading around $25.50.

This is trading on eTrade, but I don’t see it even queued up yet at Fido.

I put in a small limit order at $25.50–if it doesn’t execute I will await the next opportunity–I am not going to chase it.

11 thoughts on “Entergy Texas Preferred Opens Strong”

    1. Ron–likely they won’t list a dividend on a new issue until the 1st one is “declared” bu the board.

  1. I decided to chase and bot a small position at 25.70. The other ETR bonds are trading very rich and I feel this one might join them.

  2. Your comment yesterday about small size of this issue got me thinking. Could this be a trial balloon similar to what NRZ did a few months back? Then they’ll come out with a second lower coupon issue if this one takes off?

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