I am still out of the office–will be back in Wednesday evening. I think it has been at least 20 years since I have been out of the office for 8 days–and honestly think I am more cut out for 4-6 days of vacation–8 days seems too long.
I haven’t bought or sold anything all week as I haven’t been at the computer during market hours, but I had done a few trades last week which I had not reported.
I sold the Fortress Transportation and Infrastructure 8.25% preferred (FTAI-A), which I had bought for a flip. I had paid $25.15 and sold it for $25.90 so that worked out well as I was targeting $25.80 for a sale.
Also last week I had added MORE Highland Income Fund 5.375% (HFRO-A) simply to ‘capture’ the partial dividend. I paid $25.10 for the added shares and they went ex-dividend Friday for .2326 cents – a partial 1st dividend. Shares now are at $25.11 so I likely will trim back a bit as I am overweight, but given the A1 Moodys rating I am in no hurry–maybe folks will wake up to this bargain and drive the price higher, but as Grid has pointed out ‘names’ matter (if this was a Gabelli CEF it would be trading at $26.00–but Highland is somewhat unrecognizable).
Lastly I am watching the New Residential Investment 7.125% preferred (NRZ-B) which I had bought on 8/9 for a flip. I see it slowly creeping higher and now at $25.27–it will go ex-dividend on 10/11 for 44 cents so I may simply go ahead and hold the issue through ex-dividend and then re-evaluate.