Newtek Business Services Notes Should Trade Soon – Updated – Now Trading

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We have had many messages from readers on whether the new 7.5% notes from Newtek were trading yet.  The answer is no they have not yet traded.

Over the weekend we see that eTrade and Fidelity are now listing the shares (ticker:NEWTZ) in their symbol database which likely indicates they will trade either today (Monday) or tomorrow.

We noticed also that Newtek has sold the issue and the overallotment–and it is a small issue. In total there were just around 400,000 shares sold so if demand is good it may be difficult to secure shares.

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We intend to add shares to the Yield Hunter portfolios if we can buy some – but patience may be required.

 

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