Seadrill Partners Jumps In Trading Debut

First, I was surprised that Seadrill Partners (SDLP) IPO was priced at $22 (high end of the range) and now it jumped to $24.66 on the first day of trading. It is now offering a yield of 6.3%.

I don’t understand what investors see in this stock, but they are starving for income yielding securities.  

Disclosure: I do not own SDLP.