Ally Financial rises; AGNC preferreds mixed; MFA Financial jumps

By James McCandless

San Antonio, April 9 – The end of the holiday-shortened week was marked with overarching positivity, capping a week of gains.

Leading the secondary activity, Ally Financial Inc.’s 8.125% series A fixed-to-floating rate trust preferreds securities rose $1.35 to close at $22.09 on volume of about 1.8 million shares.

Elsewhere in the finance space, Capital Financial Corp.’s 5% series I and 4.8% series J fixed-rate non-cumulative perpetual preferred stocks were both lifted.

The series I preferreds added $2.01 to close at $23.31 with about 686,000 shares trading.

The series J preferreds improved by $1.78 to close at $21.78 with about 498,000 shares trading.

Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferreds rose $1.29 to close at $23.19 on volume of about 588,000 shares.

Meanwhile, REIT AGNC Investment Corp.’s 6.125% series F and 6.5% series E fixed-to-floating rate cumulative redeemable preferred stocks saw mixed results.

The series F preferreds gained 31 cents to close at $21.50 with about 642,000 shares trading.

The series E preferreds declined by 35 cents to close at $21.89 with about 521,000 shares trading.

MFA Financial’s 6.5% series C fixed-to-floating rate cumulative redeemable preferreds gained $2.39 to close at $12.50 on volume of about 489,000 shares.

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