Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Portfolio amendment today has adding to Pershing Square (PSHD).The heading of the graph says PSHZF US then says adding PSHD US and the graph itself says PSHD LN. Can you tell me what is the code and is it in US or London. Kind regards Kerry
Hi Kerry,
A tricky question this one: this stock is listed on the US OTC market under PSHZF, but now its prime listing is in London via the PSHD – traded on the London Stocks Exchange BUT in $US. When we originally bought it, we did so under PSHZF, but as the primary listing changed, our holdings were moved from PSHZF to PSHD, as most brokers don’t allow access to OTC stock. It’s the same stock, just a different exchange. We still list it as PSHZF, but in practical terms, we now own PSHD – which is the one we would recommend trading.
To complicate things further, code PSH LN, is the same stock, but it’s priced in Pounds (and traded in London).
PSHZF is still used in the portfolio, because our data feed is US based. We appreciate this is confusing, but hopefully that clears it up. There are no issues in holding either PSHZF, or PSHD (for $US denominated exposure) or PSH LN for exposure in Pounds – they are effectively the same.
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