Now in the 6th year of Dividend Income Investor.
Before buying any investment, GO TO CORE PORTFOLIO for a listing of CURRENT positions.
October 25, 2018. After a disastrous 600 pt decline yesterday, the stock market is up a little today and some investors will want to jump in.
We suggest you stay away. The momentum indicators for SPY and the very important XLF financials are still DOWN …………and the bottom has not been reached, in our opinion.
Watching two NEW debt dividend paying positions for possible buys at lower prices: HYHG (discussed many times before) and ECCB.
Security Type: Traditional Preferred Stock ECCB
QUANTUMONLINE.COM SECURITY DESCRIPTION: Eagle Point Credit Company, Inc., 7.75% Series B Cumulative Term Preferred Stock due 2026, liquidation preference $25 per share, redeemable at the issuer’s option on or after 10/30/2021 at $25 per share plus accrued and unpaid dividends, and mandatorily redeemable on 10/30/2026 at $25 per share plus accrued and unpaid dividends. Cumulative distributions of 7.75% ($1.9375 per annum or $0.161458 per month) will be paid monthly on the last business day of each month to holders of record on the record date fixed by the board, not more than 20 days or less than 7 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The Company is required to redeem the preferred at $25 per share plus accrued and unpaid dividends if they fail to maintain an asset coverage ratio of 200% (see page S-12 of the prospectus for further details).
Severe declines in over 300 stocks.
More concerning, and a testament to the tech-heavy leadership of the market concentrated amid just a handful of stocks, is that while the broader S&P 500 index has yet to enter a correction, more than three quarters of all S&P stocks – or 353 – have already fallen more than 10% from their highs. Worse, of those, more than half 179 have already fallen by 20% or more from their highs, entering a bear market.