Q: Question related to the new preferred share offering: ECN.PR.C which yields at the very minimum 6.25%.
Deal was sold out and as soon as it started trading the share price dropped below the $25 issue price and is now below $24.
Why would anyone buy the issue at $25 and sell it right after. Any ideas?
Also, would you recommend adding to it below $24. I have 700 shares which represents around 1.2% of my portfolio.
Thank You.
Deal was sold out and as soon as it started trading the share price dropped below the $25 issue price and is now below $24.
Why would anyone buy the issue at $25 and sell it right after. Any ideas?
Also, would you recommend adding to it below $24. I have 700 shares which represents around 1.2% of my portfolio.
Thank You.