tag:blogger.com,1999:blog-2986124651030959736.post4761507280052416728..comments2024-03-28T09:42:38.695-05:00Comments on Stocks, Bonds & Politics: Foreclosures and Home Prices/MDT/Added 30 MSFT at 24.15/Voters Send the GOP a Message/Eliminated Exposure to GS Bonds-Sold 100 PYB at 23.68/Sold 50 BMLPRH at 17.64TENNINDEPENDENThttp://www.blogger.com/profile/17444227958539559639noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2986124651030959736.post-67165229871107655812011-05-25T15:03:20.963-05:002011-05-25T15:03:20.963-05:00I like it paying monthly, got 300sh and will scalp...I like it paying monthly, got 300sh and will scalp it like a CEF for cap gains into dividend-ramp.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-668894723659005202011-05-25T14:37:47.146-05:002011-05-25T14:37:47.146-05:00thx, I only bought 200sh $15.18.thx, I only bought 200sh $15.18.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-32571302135195831132011-05-25T14:07:29.374-05:002011-05-25T14:07:29.374-05:00An article published later today in Barrons states...An article published later today in Barrons states that the yield of the underlying index used by CNPF is around 5.1%. If you subtract the expense ratio of .58%, then you get 4.52%.TENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-1776778866598325062011-05-25T13:06:16.470-05:002011-05-25T13:06:16.470-05:00I have not seen any disclosures yet about the CNPF...I have not seen any disclosures yet about the CNPF yield. Eventually, the sponsor will probably provide that information at its web page: http://globalxfunds.com/CNPF. <br /><br />The main advantage for CNPF, compared to other ETFs owning Canadian preferred shares, is that it is listed on the NYSE. Any buyer would still be subject to currency risk, but it would be somewhat cheaper to buy shares on the NYSE than on the Toronto exchange.<br /><br /> I pay Fidelity 18 CADs to buy on the Toronto exchange. If you do not own CADs already as I do, then you would have to convert USDs into CADs to make the purchase of a Canadian ETF traded on the Toronto exchange which owns preferred shares, and there would also be a fee for that conversion. So, a cheaper option would be to buy CNPF compared to the Canadian ETFs that trade in Toronto on those two factors. <br /><br /><br />I have owned in the past a Toronto listed preferred share ETF that invests in Canadian preferred shares. <br />That ETF is sponsored by Claymore Canada, CPD:CA.<br />The current yield for those shares shown today at the sponsor's web page is 5.18%. The dividends for that fund, when bought on the Toronto exchange, would be paid in CADs on a monthly basis subject to a 15% withholding tax. <br /><br />I would suspect that the dividends paid by CNPF would be in USDs and would fluctuate up and down based on the conversion value of the CAD to the USD. If the CAD rises, then it would buy more USDs, and then the reverse is true. But ultimately, even though you buy shares in CNPF using USDs on a US exchange, the value will be dependent on the value of the Canadian securities owned by that fund, which in turn will be impacted for a U.S. holder of CNPF by the exchange value of the currency. I discuss this topic in several posts. It is hard for many individuals to grasp. You would also be subject to a 15% withholding tax for the dividends paid in CNPF. <br /><br />Unless you are using a broker that actively seeks rebates for foreign taxes paid on distributions into a U.S. retirement account, I would not buy a security where there is foreign withholding in a retirement account. I have never seen Fidelity recoup those funds, but I did experience some recoupment many years ago from another broker.TENNINDEPENDENThttps://www.blogger.com/profile/17444227958539559639noreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-80786892724103512392011-05-25T12:41:17.543-05:002011-05-25T12:41:17.543-05:00re:CNPF- found the list on globeandmail, looks lik...re:CNPF- found the list on globeandmail, looks like yield could be 4.8% to 8.5% looking at largest existing preferred etfs with financials-<br />http://tinyurl.com/3v7croe<br /><br />stockhouse very slow.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2986124651030959736.post-86860900079767950692011-05-25T12:33:47.984-05:002011-05-25T12:33:47.984-05:00CNPF - new Canadian preferred etf, any idea the yi...CNPF - new Canadian preferred etf, any idea the yield? tia.Anonymousnoreply@blogger.com