UPDATE–we should note that bargain hunters have come into the Washington Prime Group preferred. The WPG-I issue is up $1.45 and the WPG-H is up $1.34. This on fairly heavy volume of 40,000 and 108,000 respectively.
Honestly there aren’t many shakers and movers today in the income security arena, but as always there are a few.
Some of the shippers today are off in the 1% area–probably just normal noise. The Tsakos Energy Navigation 8.75% preferred (TNP-D) issue has been off 1-2% at $22.64 now. The Safe Bulkers 8% preferred (SB-C) is off about 1% at $21.75. Given the run these have had since the December lows a breather is in order.
Also we see the NuStar 7.625% fixed-to-floating (NS-B) is off 1% and is off $1.50 (6%) in the last 9 trading days–don’t know what is up with this one–doesn’t appear to have news or ex dividend dates affecting price. It is now at $21.11.
The new Energy Transfer (ET) is now trading on the OTC Grey Market and with 11 million shares trading is at $24.91–under ticker ETPEP. We are considering getting some of this to hold for a 1-2% rise in price–would only be a short term deal for me.