Today I sold 29 stocks from National General Holdings Pref O against a price of $25,05.
I bought this series of preferred stock from National General Holdings in March of this year against a price of $22,23. Based on this price the initial yield was 8,43%.
As the call date of these shares is April 2020 I also hoped to make another quick 12% if the shares would be called and redeemed against $25.
This week I decided I would sell the shares, because the current price is now above $25 and I’m happy with the capital appreciation and dividends received since the purchase in March.
In 7 months I made a profit of €117,65 based on dividend received and capital appreciation and after deduction of transaction costs. This is 18,0% so I’m happy to close this position.
The proceeds from this transaction I’m probably going to invest in another preferred stock.