Of the new issues offered in the last 2 weeks I personally made just made 1 new issue purchase.
Yesterday I made a full position purchase of the new Gladstone Commercial 6.625% monthly pay preferred–I paid $25.19.
Whether I flip this one for a few steak dinners or sell off most of it–retaining just a 100 or 200 share position is yet to be determined.
I do typically like various Gladstone issues–BUT I most like the term preferreds–not the perpetuals. I don’t believe I have ever held Gladstone Commercial shares of any type, but I guess there is always a first, in particular with the lack of reasonable new coupons being offered.
I also bought a full position in the WR Berkey 5.625% Sub Notes (NYSE:WRB-B). This is a pure ‘interest capture‘. I have played this before with good success. This issue is now callable and traded down to $25.29 yesterday. It will go ex-dividend on 10/12/2019 for around 35 cents so right now there is no call risk. I expect it will rise into the $25.50-$25.60 area by ex date at which point I can exit, or alternately hold through ex-dividend and sell a week or two later. This is an issue I would have no trouble holding long term, which generally is the only way I attempt a capture for a measly $150 bucks or so.