NYMT Redeemable Preferred Stock ("Series B Preferred Stock")
Unless Redeemable Preferred was Tradable preferred, you can't buy them on the open market. I'd imagine you would have to contact your broker to close a purchase for non tradable preferred stock. Be it standard preferred, non redeemable, convertible or fully redeemable.
Unless they are priced below the common or have a much greater payout percentage, I have no idea why a retail investor would want the preferred over common. Redeemable Preferred is usually held by institutional investors in large amounts, for the safety preferred bankruptcy pecking order offers over common, on a long position.
When issued they have a time frame and premium recall value which benefits both the company & investor. They are normally issued during high interest rate periods and recalled during low interest rate periods. The company can arbitrage their capital structure better then a loan and holder get a premium higher then prevailing interest rates. Issuing and investing in Redeemable Preferred Stock needs complicated financial calculations to project savings and gains gotten by both sides. rarely held by retail I would guess.
Tradable preferred is another story.
Back around 2005/6 I held Foster Wheelers tradable preferred FWLTW, because they tracked common perfectly and were priced much lower, giving me a bigger ROI, of around 10% as I recall. In that case they offered no dividend though. Just was a swing trading vehicle.
Ps, there are also different forms of Redeemable Preferred Stock, which offer and restrict different things. All high finance, beyond the average retail investors wants, needs, and goals. Basically offering advantages to big money, borrowing and investing.
AI
