RE:RE:RE:RE:RE:RE:RE:!!!!,,,,,DOWN 2.5%%% on Ex Dividend Date........!!!!!!!!Longholder...yes for sure money can be made holding fixed income at times like this....I employed this strategy when I was still a financial advisor back during the Great Recession in 2008/09 (retired in 2010) and am doing the same now in prep for a possible recession next year.
I guess my point is...not to sound preachy....but at times like this you can do better not holding a preferred with a floating dividend. As a case in point, I bought some ENB.PR.H about a month ago. Not a big position cause as you mentioned there are liquidity issues with a yield of 8.85% on my cost base and right now, on paper I have a capital gain of a bit over 7%. If interest rates go down as expected next year, the capital gain will increase into the teens or higher depending on what the Central Banks do with rate cuts. A floating rate preferred will not achieve the same results cause the dividend will go down with interest rates - not the case with fixed coupon preferreds.
My best advice to you would be to hold onto your BCE commons and swap out the BCE preferreds for the one I have or something similar to achieve the best results going forward.