As can be seen above, SPYI underperformed YTD, as the S&P 500 has since very strong capital gains for the same. SPYI underperformed by less than its peers, however, as its strategy is less aggressive, and so reduced capital gains by less. Friday's market action, with the major indexes erasing modest morning gains, pushed a number of stocks below recent entries.

SPYI's covered call strategy reduces the fund's potential capital gains. In my opinion, and taking into consideration current fund holdings, it would be fair and accurate to say that the fund has moderately reduced potential capital gains. As such, investors should expect below-average capital gains when the S&P 500 increases in value, as has been the case YTD. SPYI's covered call strategy generates significant option premiums, as compensation for reduced potential capital gains.

Farmland Partners MarketRank™ Forecast

In addition, it owns land and buildings for four agricultural equipment dealerships in Ohio leased to Ag Pro under the John Deere brand and has served as property manager for approximately 31,000 acres, including farms in Iowa. Its portfolio spans numerous farmland markets and crop types. Its portfolio is used to grow primary crops, such as corn, soybeans, wheat, rice, and cotton, and produce specialty crops, such as almonds, citrus blueberries, and vegetables. In addition, under the FPI Loan Program, it makes loans to third-party farmers (both tenant and non-tenant). The combined company is the largest public farmland real estate investment trust in the nation, spanning more than 144,000 acres across 16 states.

View analysts price targets for FPI or view top-rated stocks among Wall Street analysts. The net long-term impact of the fund's strategy is dependent on many factors, including long-term capital gains, option prices, and sequence of returns. The net long-term effect is likely to be slightly negative, as equities mostly go up, and as these securities are generally priced accordingly (there are no free lunches). SPYI has underperformed the S&P 500 since inception, as expected, but only very slightly, inconsistently so.

Dow Jones Futures Fall: Bull Market Running, But This Risk Rises; Tesla Earnings, Cybertruck In Focus

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On a consolidated basis, the combined portfolio consists of approximately 75% primary row crop farmland and 25% specialty crops (fresh fruits and vegetables and permanent crops) by value. This composition of farmland closely tracks the aggregate value https://currency-trading.org/cryptocurrencies/ravencoin-current-price-0-21-usd/ of all U.S. agricultural production, which FPI believes offers stockholders well diversified exposure to high-quality U.S. farmland. FPI generally does not operate properties; it leases its farmland to some of the leading producers in the nation.

FPI Farmland Partners Inc

In Q2 2022, the Shanghai plant was shut down for several weeks to Covid, while the Berlin and Austin plants were slowly ramping up. Leaders had a great week, with software and chip stocks prominent among new buying opportunities. The video embedded in the article discussed the strong market action this week and analyzed Nvidia rival Advanced Micro Devices (AMD), Rambus (RMBS) and Eli Lilly (LLY). Friday night, a federal appeals court rejected an FTC bid to prevent Microsoft from closing its takeover of Activision Blizzard (ATVI). Nasdaq has already said Trade Desk (TTD) will replace ATVI stock in the Nasdaq 100 before Monday's open. But that upcoming rebalance, first announced on July 7, didn't stop megacaps from having a big week, especially Meta stock, Nvidia and Google.

The consensus among Wall Street analysts is that investors should "buy" FPI shares. The Price-to-Earnings (or P/E) ratio is a commonly used tool for valuing a company. It’s calculated by dividing the current share price by the earnings per share (or EPS).

Policy & Public Interest

I'll start with a quick look at SPYI's covered call strategy. As a practical matter, a lot of stocks are now extended from buy points, such as Nvidia. Tesla continues to increase discounts in the third quarter, suggesting more pressure on gross margins. In Germany, there's now nearly a 10% discount on the Model 3 LR RWD off the list price. Tesla has tried to limit official price cuts in recent months, avoiding negative headlines. Among growth ETFs, the Innovator IBD 50 ETF (FFTY) popped 3.4% last week.

The iShares Expanded Tech-Software Sector ETF (IGV) soared 5.6%, with MSFT stock a huge component. The 10-year Treasury yield plunged 23 basis points to 3.82%, even with Friday's gain of 6 basis points. However, the Nasdaq is 7.4% above its 50-day line, while the Nasdaq 100 is 8% above that key level. The Nasdaq could get even more extended, but that would greatly increase the odds of market retreat, with a greater likelihood that it would larger.

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Tesla already reported Q2 deliveries of 466,140 EVs, easily beating views thanks to ongoing price cuts and incentives. Gross margins for Q2 will key after tumbling in Q1 and in recent quarters. Reflecting more-speculative stocks, ARK Innovation ETF (ARKK) spiked 11.1% last week and ARK Genomics ETF (ARKG) 9.4%. U.S. crude oil futures https://trading-market.org/piercing-pattern-technical-analysis-scanner/ rose 2.1% to $75.42 a barrel last week, but did fall 1.9% on Friday. The small-cap Russell and the equal-weight indexes point to the big improvement in market breadth. While losers easily beat winners on Friday, advance-decline lines have risen significantly in the past couple of weeks while new highs have trounced new lows.

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Tesla earnings headline the week ahead, with the EV giant touting an Austin-made Cybertruck. Farmland Partners' stock is owned by a variety of retail and institutional investors. Top institutional investors include Cambridge Investment Research Advisors Inc. (0.06%). Insiders that own company stock include John A Good, Luca Fabbri, Murray R Wise and Paul A Pittman. At the CEF/ETF Income Laboratory, we manage ~8%-yielding closed-end fund (CEF) and exchange-traded fund (ETF) portfolios to make income investing easy for you.

• REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share.
• Friday's market action, with the major indexes erasing modest morning gains, pushed a number of stocks below recent entries.
• The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.
• SPYI's price decreased as well, but strong dividends meant total returns were stronger.

SPYI's distribution yield is above-average, while the fund's potential capital gains are below-average. The net impact is dependent on market conditions, especially realized capital gains. These options are structured in such a way as to transfer potential capital gains to counterparty, at a certain date, after a cutoff/strike price. In exchange for transferring away potential capital gains, SPYI receives premiums in cash. Juan has previously worked as a fixed income trader, financial analyst, operations analyst, and economics professor in Canada and Colombia. He has hands-on experience analyzing, trading, and negotiating fixed-income securities, including bonds, money markets, and interbank trade financing, across markets and currencies.