[Opening Position in Anthracite Capital (AHR)]
Dear Member:
Anthracite Capital (AHR) is a somewhat beaten down REIT (real estate investment trust)that is described as a provider of high-yield commercial real estate loans and securities. The company has recently announced a 30 cent a share dividend to shareholders of record on December 31. At current prices, the stock is yielding over 14% a year in dividends.
I rarely place a buy order during the first hour of the market, but plan to place an order to buy Anthracite Capital (AHR) after the first half hour at a limit of $8.25. Since I will not have the shares in my account until 3 business days after my order is filled, I am looking for a fill today so that I will receive the dividend as a holder of record by Monday, December 31st. Today is also a shortened trading day so I will place my order earlier than I usually might.
DISCLOSURE: At the time of publication, I have no position in AHR.
Sincerely,
Bill Kraft
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