We had forgotten to mention last Friday that we had purchased 400 shares of the new GasLog Partners 8.50% fix-to-floating rate preferred which is now trading on the OTC Grey Market under the temporary ticker of GLOUF.
We paid $24.50 for the shares and we see the shares are trading at $24.25 right now. Even with this bargain price it is unlikely that we will purchase more.
Today we will add 200 shares to the High Yield portfolio which can be seen here. We already hold the 8.20% fixed-to-floating issue (GLOP-B) in this portfolio so we are making the new purchase small.
All issues from GasLog Partners (GLOP) are junk rated (they have no rating), but we consider them pretty good junk because of their strong balance sheet and large backlog of contract revenue.
Also we note that eTrade charged just the regular commission on this purchase—no $50 foreign stock charge.