Q: I hold 500 shares of a preferred stock in a RRIF but am confused about the best course of action. The MANULIFE FIN 4.2%-1 S3 PF were purchased at average cost of $24.10 but have not traded above $20 since January 2015, and have been under $15 since December 2018, but recently are trending up. Every 5 years (coming in June 2021) MFC could redeem at $25 or provide option to convert to another series. With income of about $272 annually on shares now worth only about $7,775 that works out to a return of about 3.5%. So if I sold at current prices I'd need to replace with something with same yield. Your thoughts?