Wachovia Securities Fixed Income Division has created six new indices that track the performance of $25 par preferred stocks, one aggregate index, providing what they say is a comprehensive look at the preferred market while the other five are specialized indices.
The indices can be found by searching WHPS on Bloomberg Professional Service.
The indices include 367 individual securities that represent over $100 billion across 4 billion preferred shares.
The WHPS indices are market weighted and are rule-based.
In addition to the daily pricing updates available on Bloomberg, a monthly formal analysis is available in an electronic format to participating investors.