SF - New Preferred Stock IPOs February 2019
The upward pressure on preferred stock prices that we saw during January continued throughout February. As the month came to a close, the average market price for all U.S. traded preferred stocks was $24.72, up $0.15 per share over the last month.
The good news is that $24.72 is still below these securities’ $25.00 par value. Remember that the par value is what shareholders will receive in cash should the issuing company decide to redeem your shares, so buying shares below par sets you up for a downstream capital gain on top of the regular