AGNC Investment Corp. 6.125% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (AGNCP)
NASDAQ (NGS) NASDAQ (NGS) Primary 
Why I Purchased 9.18% Yielding AGNC Preferred Shares In April
This article focuses on our recent purchase, our article on the preferred share, and an update. I initiated a small position in AGNCP at a 9.2% stripped yield. Shares of AGNCP recently underperformed the other preferred shares from AGNC. There was a material gap between AGNCN and AGNCP. Today, there's a material gap between AGNCP and AGNCM.
AGNCP: Upside Already Realized
AGNCP shares are expected to deliver positive returns, though they no longer offer an exciting risk/reward profile. Preferred share prices increased despite higher Treasury yields, leading to fewer attractive investment opportunities and holding more cash. AGNCP's current valuation offers a 7-8% annualized yield to call.
An Overdue Article On AGNCP At A Lukewarm Price
These bullet points are boring. The article is not. AGNCP is one of 5 preferred shares from AGNC Investment, with a floating-rate dividend starting in 2025. Investors should be prepared for short-term rates to fall, causing dividend rates to decrease.
