Trade Alert
This latest trade is just about relative price movements and the swing in yields. Treasury yields have been climbing rapidly. It's been putting quite a bit of pressure on some other securities that are sensitive to movements in interest rates. But this share kept going up. I decided to close out the position and lock in the gains.
I may replace it with another preferred share soon. I've been looking at a few opportunities. Often I would buy the replacement share immediately after selling one share, but this time I'm taking a bit longer. Some of the candidates I was considering had bigger bid-ask spreads, and I'm not interested in crossing a big spread.
There is absolutely nothing wrong with these shares. The fundamentals still look fine. This is just about the price swing while Treasury yields continued to climb.
Trades Placed
Keep reading with a 7-day free trial
Subscribe to The REIT Forum to keep reading this post and get 7 days of free access to the full post archives.