We have stepped in for a small buy of the Global Partners (NYSE:GLP) 9.75% fixed-to-floating preferred (NYSE:GLP-A).
This is a newer issue which the company sold on 7/31/2018 and which we owned on the IPO. We sold the shares for a tasty capital gain at $25.82 after buying at $24.82 14 days previous.
Today we bought at $24.95 and plan to hold the shares as a permanent holding–where can I get almost 10% on a relatively decent MLP preferred unit?
We would make another small add if shares were to sell off further.