Sector: CEF
Priority Income Fund 6.25% Series G Term Preferred Stock Due 2026
Eagle Point Credit Company Inc 6.75% Notes Due 2031
Oxford Lane Capital Corp 6.75% Notes Due 2031
RiverNorth/DoubleLine Strategic Opportunity Fund Inc. 4.375% Series A Cumulative Preferred Stock
Priority Income Fund, 6.625% Series F Term Preferred Stock Due 2027
Oxford Lane Capital Corp 6.25% Series 2027 Term Preferred Stock
Gabelli Multimedia Trust Inc. 5.125% Fixed Rate Cumulative Preferred Stock
Gabelli Equity Trust, 5.00% Series K Cumulative Preferred Stock
Priority Income Fund Inc. 6.375% Series E Term Preferred Stock Due 2024
Highland Income Fund 5.375% Series A Cumulative Preferred Shares
Gabelli Global Utility & Income Trust, Series A Cumulative, Puttable/Callable Redeemable Preferred Shares
Coupon as of 12/31/2018 is 3.80%
NOTE THIS SECURITY IS NOW TRADING AS A PERPETUAL PREFERRED–ALL “PUT” PERIODS HAVE PASSED
Gabelli Global Utility & Income Trust Series B, Cumulative Puttable/Callable Preferred Shares
As of 7/2019 the shares pay 7%, BUT this will be reset in the next 3 months
Priority Income Fund 7.00% Series D Term Preferred Stock Due 2029
Gabelli Dividend and Income Trust 5.375% Series H Cumulative Preferred Stock
Priority Income Fund 6.625% Series C Term Preferred Stock Due 2024
Special Opportunities Fund 3.50% Convertible Preferred Stock
Priority Income Fund 6.25% Series B Term Preferred Stock Due 2023
AllianzGI Convertible and Income Fund II, 5.50% Series A Cumulative Preferred Shares
Dividends Paid by Closed End Fund Preferreds may be qualified or may not be qualified distributions. Investors should check the issuer info closely to see what the current dividend status is at the time of investment.
AllianzGI Convertible and Income Fund 5.625% Series A Cumulative Preferred Shares
Gabelli Go Anywhere Fund Series A 8% (now 5%) Cumulative, Puttable and Callable Preferred Shares
The preferred shares traded around $54 to start, but only carry a liquidation preference of $40/share. The giant kicker was the preferred carried a 8% coupon during the 1st year. By the middle of 2017 the preferred shares had fallen to the $44-45 area as the ‘teaser’ rate was set to come to an end.
For years 2 and 3 the preferred shares pay a coupon of 5% (based on $40/share liquidation preference) meaning a 50 cent/quarter distribution. After this time the distribution will be at a rate of 200 basis points over the 10 year treasury, but NOT LESS than 5% nor more than 7%.
Holders of the preferred stock will have the option of ‘putting’ the shares to the fund at $40/share in 2019 and 2021. After the second ‘puttable’ period the shares will become perpetual preferreds with normal terms of redemption applying.
Current coupon is 5% as of 7/2019
Priority Income Fund, Inc 6.375% Series A Term Preferred Stock Due 2025
Gabelli Equity Trust 5.875% Series D Cumulative Preferred Stock
Gabelli Equity Trust 5.45% Series J Cumulative Preferred Stock
Oxford Lane Capital Corp 6.75% Series 2024 Term Preferred Stock