Preferred Stocks to Buy: PowerShares Preferred Portfolio (PGX)
Dividend Yield: 6.6%
Of course, if you’re worried about picking the right preferred stock, you can always go with an ETF, which offers diversification.
There are a few preferred ETFs floating around, but one I favor is the PowerShares Preferred Portfolio (PGX). Most preferred ETFs are heavily weighted toward financials, and this is no exception. However, I’m not as concerned as I used to be about financials, and this ETF is globally diversified, which puts me a little more at ease. PGX currently yields 6.6%.
As of this writing, Lawrence Meyers held AHT Preferred D series shares. He is president of PDL Broker, Inc., which brokers financing, strategic investments and distressed asset purchases between private equity firms and businesses. He also has written two books and blogs about public policy, journalistic integrity, popular culture, and world affairs. Contact him at firstname.lastname@example.org and follow his tweets @ichabodscranium.