Today is the last trading day of 2016. While the markets as a whole have withdrawn considerably, many of our losses from the middle of the week have reversed, leading us to a slight profit for the day. We are spending the day researching new acquisitions for 2017 and watching Natural Gas as the incoming cold weather struggles against rising oil storage reports. Currently January’s cold weather hasn’t been able to overcome the downward momentum (NG futures are down 2.17% today) but we expect that to reverse early next week.
We added the preferred stock of AGNC as this issued dividends yesterday, and went under it’s own face value by $0.50. This means the price should swing back at least $0.50 within the next week or so, and should continue to grow throughout the quarter. It is unlikely we’ll hold this position until the next ex-date. After next month we may use this as part of a low-risk portfolio to hold uninvested assets through the mid-term.