Author: Tim Plaehn, Investors Alley

With the massive increase in interest rates, preferred stocks with fixed-to-floating coupon rates are poised for significant, locked-in yield increases. That’s a massive 2024 profit opportunity just waiting for you to jump in.

This is a unique opportunity: If you buy these preferred shares now and hold until they’re redeemed, you’ll receive a total of $156 per share in cash (an almost guaranteed return on a $35 investment).

Since its IPO just four years ago, it has quickly grown to be one of the largest and most enticing BDCs.

What I’m seeing is a huge buying opportunity.

If there ever were a “Buy-and-Hold Forever” stock, this one would be at the top of my list.