The OTC tickers for both of the new issues are as follows–
Sachem Capital 7.75% perpetual preferred—-SCMCV
Chatham Lodging 6.625% perpetual preferred—-CLDTV
Both are effective immediately so if you have an interest you should watch your broker web site for the new issues – no doubt some will have it today while it will take until tomorrow for some of the others to have it set up.
I bought 500 shares of SCMCV on Vanguard this afternoon @ $25.08 from their website with no problem. Wish I had been a little earlier but in the Doctor’s office for an ingrown big toenail procedure. No matter what we did just could not get rid of that sucker. Could have snagged these a little cheaper.
Bought shares at both Fidelity and Merrill earlier today, Surprised it was still in the $24.70s since I didn’t get it at the opening due to family obligations. Maybe it just started trading on Fidelity and other platforms about when I logged on and I lucked out.
I bought a lot of it to flip so it is nice it is already up a good amount right now. I am hoping it can get near $26 like its sister issues even though they are a bit higher on the cap stack. We will see because I don’t want to hold a lot/any of this long term.
SCMCV changed to SCMCP.
https://www.otcmarkets.com/stock/SCMCP/overview
ETrade recognizes SCMCP.
Etade suspended the buy as part of a corporate action. do you know what
that was? so they could change to the new symbol.
when issued symbol to regular symbol V->P
after a call to them, they returned the holding ,under the new symbol.
thanks.
frustrating to be with Fidelity with all these nice fixed income IPO bonds.
can’t buy Sachem and Chatham with Fidelity as no quotes are shown..
It’s really time for me to add some $ into Schwab.
I will be adding a decent size into SCMCV and a smaller size in CLDTV.
-james
Strange but could not get detailed info on SCMCV at Schwab! Tried both ActiveTrader App and schwab.com. You can request and get quote on the small quote window at bottom and even place an order using that but cannot see the page-full of info you typically get (with chart, detailed quote etc)
Schwab platform has many errors, failed-logins and service interruptions since their buy of TDA etc and the higher volumes in the past year or so.
from what I have gathered. Schwab is reasonable for Fixed Income, no commissions on OTC. TDA charges for OTC trades.
thanks for your feedback.
-james
I didnt get much info researching it on schwab but when I clicked on TRADE it showed the current Bid and Ask. I’ve learned to get my info from wherever then go to the broker simply to make the trade. Well-versed at the two computer technique.
Depends on the issue, but sometimes Fidelity is a day behind on these new issues. I bet you can buy them tomorrow
Neither has come up yet on Fidelity this afternoon.
I have been trying to buy on TDA but it does not come up. I am new to this. Is there something special I need to do to buy?
bought SCMCV at Schwab for 24.60. does td still charge $6.99? Looking to sell SCCC, price and YTC difference not warranted by the term.
Martin G: TDA still charges 6.99 for OTOTC (pink sheet) trades. They will give free trades if you threaten to pull account.
Just bought on TDA at 24.60.
I have been trying to buy on TDA but it does not come up. I am new to this. Is there something special I need to do to buy?
I was only able to find it on thinkorswim.
Figured out how to buy.
Got it for 24.75. I think I went too fast. I think with some patience I could have gotten for 24.70 or less.
SCMCV trading on TDA
I have been trying to buy on TDA but it does not come up. I am new to this. Is there something special I need to do to buy?
Is the high underwriting discount of 4% what is causing the decline?
Order filled at Schwab 24.78 on Sachem
Same here.
CLDTV is bid at 25.15 with no offer — verbal with trading desk.
SCMCV not on Fidelity at the moment. I’ve been in SACC and SCCC for a while, both doing well. And the commons is near recent high, yielding 8% plus, goes ex-div in a few weeks.