Note 3 - Investment Securities

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 

3

 — Investment Securities

We previously invested in Class L shares of the JPMorgan Managed Income Fund. The JPMorgan Managed Income Fund has an average maturity of approximately

one

year, duration of approximately

six

months, and approximately

24%

of such fund’s holdings are AAA-rated with

0%

non-investment grade rated.  In

March 2020,

we redeemed the balance of the JPMorgan Managed Income Fund and realized a loss of

$0.4

million.

Investment securities consisted of the following (in thousands):

	March 31,				December 31,
	2020				2019
	Fair value		Cost		Fair value		Cost
JPMorgan Managed Income Fund	$	—	$	—	$	62,207	$	62,178