Rocky’s Weekly Stock Picks
Summer is here and the market is trying real hard to shut out retail investors. This is why we make sure to invest in securities that are less sensitive to large moves in the indexes. Fixed income and preferred stocks are a great way to do that, provided they’re not pegged directly to the S&P. By the same token, that’s why we avoid a lot of ETF’s. It’s not really diversification if they all follow the same trends!
Oh, and apparently it’s Juneteenth weekend, so markets are closed Monday. Yeah, we didn’t know that was a thing either.
PBR - PetroBras, $11.61. We won’t see a dividend for a couple months, but right now we consider this to be trading at a discount. Brazil’s largest oil company is set for some explosive growth in the next few years.
Preferred shares are available as well, trading about a dollar lower at the moment. Dividends are about the same.GECC - Great Elm Capital Corp, $12.62, ex-div 6/22, $0.45/share per quarter. BDC specializing in loans, mezzanine, and middle market investments. Seems like a good time to pick up some shares while they’re cheap. We won’t expect to see any great move upward in share price for a while.
MVO - $9.32/share, 16.09% annualized return paid quarterly. MV Oil Trust isn’t the only oil investment there is to make, but it’s a darned good one.
CCL - $9.60 , dividends seem to be suspended. A great time to acquire a handful of Carnival Cruise Line shares.
CLM - $8.01 Shares of this fund are way down. We can’t predict what will happen in 2023, but for 2022 it looks like we can expect monthly distributions of $0.18 per share. Nice!
