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Are you doing this with anything other than Entergy preferreds? I don't disagree with the strategy - as long as you are buying an amount over par that will be covered in 1 or 2 quarters of dividends, it seems like a relatively safe way to get a decent (for now) yield. But you seem to be increasing your single issuer risk.

Hello AJ,

Only Entergy right now, just because they were the only ones that had the criteria that I was looking for (quality credit rating priced where the amount over par would be covered in less than 2 quarters). I do suspect that some or all will be called. If not, I would probably swap one or two of them out for other preferreds when I find something to replace them with.

Jim
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