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The problem is that many people don't look at the par value of preferreds, just see the yield and pounce. Most savvy preferred investors will *rarely* buy a preferred trading more than one dividend payment above its call value (ie, $25).
That said, I still refuse to own any 'non-cumulative' preferred stocks -- which frequently are issued by banks ... and what frequently is held by these preferred ETFs, too....so I don't hold any of them, either!
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The problem is that many people don't look at the par value of preferreds, just see the yield and pounce. Most savvy preferred investors will *rarely* buy a preferred trading more than one dividend payment above its call value (ie, $25).
That said, I still refuse to own any 'non-cumulative' preferred stocks -- which frequently are issued by banks ... and what frequently is held by these preferred ETFs, too....so I don't hold any of them, either!