Preferred shares are an income investor’s best friend when it comes to hybrid securities, which sit above common equity in the capital structure. When a preferred share is trading above its call price ...
Chimera Investment Corporation (CIM) has 2 baby bonds and 4 preferred shares. Today, we’re talking about one of the baby bonds, CIMN (CIMN). At $25.14, CIMN has an annualized yield to maturity of 9.11 ...