“The number of high quality issues selling for less than their $25 par value was at 90 at the beginning of last week. The count rose to 93 last Wednesday and reached 101 on Thursday. At last Friday’s close the list of the highest quality preferred stocks selling below $25 was 102, the list growing by an additional twelve choices during the week for preferred stock buyers to pick from,” according to Doug Le Du.
Perhaps in anticipation of the Fed meeting, PFXF and PGX have both traded slightly lower over the past week, although PFF is modestly higher.
iShares U.S. Preferred Stock ETF
ETF Trends editorial team contributed to this article.