Investors....come in please!

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Originally Posted By: Pablo
Originally Posted By: Oldmoparguy1
Originally Posted By: Pablo
PFO treating me right.


I guess so! Someone made a ~2500 share buy right at the close.


Oh that was you!
cool.gif



Nope. Not me....
wink.gif
 
Actually it was a 3000 share buy at 3:59PM. There was another one at 12:17PM and several more between 700 and 2400 during the day. It looks like someone was buying a lot of PFO.
 
I hold it in my 401K and use the dividends to buy more shares (no transaction charge!), so plus over the while of buying on the dips my per share price is quite low. Gotta love something positive in 2008!

EFT green for the first time in awhile.
 
I've been looking at the charts. Somone started buying heavly on Feb. 01 on the open. When I look back, it's easy to see because PFO is so thinly traded. There would be a group of buys from 500 to 2400, then nothing for an hour or so, then another group of buys. Early on the first there was a buy of 19300, followed in the afternoon of 16400. When the price got up to some point they stopped buying. Wonder what's happening....
 
ING Prime Rate Trust (NYSE: PPR) has announced that it will trim its January dividend down to 4.6 cents per share from the 4.75 cents it paid in December. Although we’re still impressed with the funds diversification that limits our exposure to individual defaults, the dividend cut comes as the net asset value of ING’s portfolio has been steadily dropping.

And although it would take a wave of defaults to take down the fund, its widening discount clearly shows that investors still don’t have much stomach for risk. That coupled with higher borrowing costs to maintain the portfolio could continue to drive share prices down in the near term. Discretion is the better part of valor, so we’ll step aside until the cycle inevitably turns for the better.

Sell ING Prime Rate Trust.
 
Originally Posted By: Oldmoparguy1
Ouch!


Yeah it was about 2 weeks since PF sorta mumbled about PPR, then the "watch" and then the "sell"!!! Let's watch it....but remember the next paper issue of PF won't be for 2 weeks or so, those readers may not dump it until then.
 
I don't know where they are coming from. I spend considerable time last night in research and can't find anything to justify their position. They may be right, but I can't see it. As far as the div, PPR's div is not fixed but varies month to month, like many other funds, and there is usually an extra div in Dec. to make up the difference. AFAICS, PPR has never missed a div since 1992...

Guess I'll look around for another fund to diversify into.

Thanks for the tip P.
 
3 big buys on the open, 88k, 26k and 46k. If this keeps up, it will easily exceed both it's 10day and 90 day volumns. Heavy buying started after 2PM yesterday, (tue.). 145K, several over 20k. Clustered groups of buys since x-div, like I saw with PFO..

What the heck is going on P?
 
You want hate, go read the yahoo message board for PPR. PF recommended it a buy when it was at its 52 week high. Looks to me like this may be a good time to average down. I bought it for the div. I don't expect to be trading it. I can live with 9% return for the year.
 
I don't use ASK Research charts anymore. The charting facility in Fidelity Active Trader Pro has a lot more info available, and I doubt if I'm using more then half ot the options. I still use Yahoo Finance for quicky searches though.
 
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