New Preferred Stock IPOs, August 2021
Summary
- As August 2021 comes to a close, we look back at the new preferred stocks and ETDs introduced during the month, offering annual yields ranging from 3.95% to 9%.
- Here is a comparison against highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric.
- CDx3 preferreds ranked 10 out of 10 are meanwhile selling for an average premium to par of 8% and offer an average current yield of 5.14%.
- Past preferred stock IPOs now trading below par: a look at recent par crosses.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of BAM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.