Last week we only made 1 move in personal portfolios–this is pretty normal for us–we strive to not trade much at all.
We made a purchase of a position in the CHS (Cenex Harvest States) 7.10% Class B Reset Rate Preferred (NASDAQ:CHSCN). This is in keeping with our thoughts that rates could have peaked for now and we can go with a few perpetual preferreds with the corresponding higher yields (compared to our term preferreds and short maturity baby bonds). We paid $25.35 for our shares.
This particular issue has fallen over $2/share the last couple of months and $4/share in the last year caused by the issue being perpetual and also by the recent issues CHS has had with financial oversight at the coop (fraud by employees).