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XAI Octagon Floating Rate & Alternative Income Term Trust of Beneficial Interest
As April 2021 comes to a close, we look back at the new preferred stocks and ETDs introduced during the month, offering annual yields ranging from 4.625 to 8.375 percent.
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 7.24% and offer an average current yield of 5.19%.
Past preferred stock IPOs now trading below par: a look at the preferred shares of New Residential Investment Corp.