Author Topic: ORH.A Today  (Read 12459 times)

StubbleJumper

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ORH.A Today
« on: February 02, 2009, 03:49:56 PM »
ORH.A dropped like a stone today, for no apparent reason....  I picked up another nice chunk at $17.25.  ;D ;D ;D ;D ;D


Anybody else get in on this action today?


Myth465

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Re: ORH.A Today
« Reply #1 on: February 02, 2009, 04:27:32 PM »
Thanks for the update. I wrote the preferreds off due to the big December rally but will be buying tomorrow.

kmukul

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Re: ORH.A Today
« Reply #2 on: February 02, 2009, 11:38:35 PM »
isnt ORH-B cheaper? the div is almost the same? sorry i am kind of new to these preferreds and cant see a reason why orh-a is better then orh-b

zarley

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Re: ORH.A Today
« Reply #3 on: February 03, 2009, 04:40:17 AM »
isnt ORH-B cheaper? the div is almost the same? sorry i am kind of new to these preferreds and cant see a reason why orh-a is better then orh-b

Not really a question of better.  The ORH-B shares have a floating dividend rate (based on 3 month LIBOR) and the A shares have a fixed rate.  Since short term rates have come down considerably recently, the payout for the B shares will be less than the A shares for the immediate future.

At current prices the A shares are yielding almost 12%.

Disclaimer: I own ORH-A.

Redskin212

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Re: ORH.A Today
« Reply #4 on: February 03, 2009, 09:22:12 AM »
I was buying yesterday as well - mainly at $17.15 
Wanted more today but price has drifted up.

Redskin

misterstockwell

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Re: ORH.A Today
« Reply #5 on: February 04, 2009, 08:46:04 AM »
Just an FYI--there appears to be someone with plenty of shares for sale anywhere above 17.20. I have pulled down a couple blocks of 5,000 with a bid above 17.20 and I am instantly filled. Get 'em while you can!

kmukul

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Re: ORH.A Today
« Reply #6 on: February 04, 2009, 08:57:40 AM »
Is there anything fishy which might be happening? or is it that the market is kinda stupid

zarley

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Re: ORH.A Today
« Reply #7 on: February 04, 2009, 09:01:58 AM »
Is there anything fishy which might be happening? or is it that the market is kinda stupid

It's very thinly traded, so one committed seller can keep the price down for a while.  If you look at a day's volume, it is usually in the low thousands of shares. 

misterstockwell

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Re: ORH.A Today
« Reply #8 on: February 04, 2009, 09:16:19 AM »
Thinly traded stock with a single seller--no idea what motivates a seller like that, whether it be personal need, rebalancing a fund, a company mandate to eliminate financial preferreds, redemptions, etc. Whatever the reason, they have a nice number of shares available. I got most of the volume today, but even my last trade for 3000 was hit immediately, so there are more there.

Clairveaux

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Re: ORH.A Today
« Reply #9 on: February 04, 2009, 09:32:13 AM »
They're talking about making "naked" credit default swaps illegal or closely regulating them in Washington.