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Closed End Fund (CEF) Bancroft Fund Ltd (NYSE:BCV) has sold a high quality preferred stock with a 5.375% coupon.  While the coupon seems very modest the reward equals the risk as this is a low risk issue. Long term readers will recall that closed end funds are limited in their use of leverage.  In the case of preferred stock CEFs…

Date Issued   8/3/2016 Shares Issued  1,200,000   Overallotment Shares  0 S&P Rating   NR   Moodys Rating   A1 Security Ticker Symbol   BVC-A     OTC Temp Ticker     BNCRP   Market Traded ON   NYSE Distribution Payment Paid on the 26th of March, June, September and December beginning on 9/26/2016 Quarterly Distribution  .336   Annual Distribution   1.343 Securities may be redeemed, at the…

While we continue to be leery of buying most master limited partnership units (master limited partnership shares are called “units”) we are not averse to buying preferred units if the reward is adequate. Landmark Infrastructure Partners LP (NASDAQ:LMRK) has sold new preferred units with a coupon of 7.90% and in these days of low coupon issues this one looks pretty…

Date Issued   8/1/2016 Units Issued  1,600,000   Overallotment Units  240,000 S&P Rating   NR   Moodys Rating   NR Security Ticker Symbol   LMRKO     OTC Temp Ticker     LNDMP   Market Traded ON   NASDAQ Distribution Payment Paid on the 15th of February, May, August and November beginning on 11/15/2016 Quarterly Distribution  .494   Annual Distribution   1.975 Securities may be redeemed, at the issuers option, as…

Date Issued 6/29/2016 Shares Issued  7,000,000     Overallotment Shares  1,000,000 S&P Rating   NR   Moodys Rating   NR Security Ticker Symbol   NGHCN   OTC Temp Ticker  NTTNP Market Traded ON   NASDAQ Dividend Payment Paid on the 15th of January, April, July and October beginning on 10/15/2016 Quarterly Dividend   .469   Annual Dividend   1.875 Securities may be redeemed, at the…