Tired of super-low interest rates? The IPO market may offer a solution.
Angel Oak Dynamic Financial Strategies Income Term Trust (DYFN) plans to raise $100 million in an initial public offering next week. TradeStation clients can access the IPO market thanks to our collaboration with ClickIPO.
DYFN will target securities of smaller U.S. banks, which typically yield more than larger institutions. At least 80 percent of its portfolio will carry investment-grade credit ratings, according to the prospectus. Some of the closed-end fund’s securities may be issued by insurers or real-estate investment trusts.
Interest rates were already falling before coronavirus. They plunged near zero after the pandemic hammered economic growth. Investors seeking income may want to investigate DYFN.
The closed-end fund intends to issue about 5 million shares for $20 each next Thursday, June 25. TradeStation clients can directly access IPOs through ClickIPO’s app.
The IPO market slowed dramatically in March but is now rebounding. June is already the busiest month in over a year, according to ClickIPO.