auction-rate preferred stock

auction-rate preferred stock

A type of floating-rate preferred stock for which dividend payments are determined at periodic auctions conducted by the issuer rather than by short-term interest rates. Compare remarketed preferred stock.
References in periodicals archive ?
Several major bank holding companies chose to redeem portions of their outstanding auction-rate preferred stock rather than pay sharply higher rates.
Internal Revenue Service revenue ruling 90-27 resolves the questions of whether auction-rate preferred stock is debt or equity and whether a corporate holder of the stock is entitled to a dividends-received deduction.
Global book-entry has already been used by a variety of issuers for their auction-rate preferred stock and notes.
30, 2012, common equity securities constituted 80% of the portfolio, auction-rate preferred stock issued by other closed-end funds comprised 5% of the portfolio across two securities, a limited partnership investment in one long-short equity fund represented approximately 11% of the portfolio.
30, 2012, common equity securities constituted 85% of the portfolio, auction-rate preferred stock issued by other closed-end funds comprised 3% of the portfolio across two distinct securities, master limited partnership interests in one energy company represented 3%, and a limited partnership investment in one long-short equity fund represented 3% of the portfolio.
30, 2011, common equity securities constituted 79% of the portfolio, auction-rate preferred stock issued by other closed-end funds comprised 3% of the portfolio across two distinct securities, master limited partnership interests in various energy companies and one financial institution represented 6%, and a limited partnership investment in one long-short equity fund represented 3% of the portfolio.
30, 2011, common equity securities constituted 66% of the portfolio, auction-rate preferred stock issued by other closed-end funds comprised 10% of the portfolio across five distinct securities, master limited partnership interests in one energy company and one financial institution represented 3%, and a limited partnership investment in one long-short equity fund represented nearly 10% of the portfolio.
The fund's auction-rate preferred stock has been redeemed in full through the issuance of the VMTP and MTP shares.
NPG issued the MTP shares in February 2010 to redeem in full outstanding auction-rate preferred stock.
Treasury securities made up 10% of the portfolio, auction-rate preferred stock issued by other closed-end funds comprised 4% of the portfolio across three distinct securities, master limited partnership interests in 11 energy companies represented 3%, and a limited partnership investment in one long-short equity fund represented 3% of the portfolio.
Treasury securities made up 26% of the portfolio, auction-rate preferred stock issued by other closed-end funds comprised 10% of the portfolio across seven distinct securities, and a limited partnership investment in one long-short equity fund represented nearly 9% of the portfolio.
The frozen auction-rate preferred stock (ARPS) market has seen some signs of activity due to the various strategies implemented by closed-end fund (CEF) managers, according to Fitch Ratings in a new report.