Capital One preferreds decline; AGNC negative; Two Harbors lower

By James McCandless

San Antonio, April 13 – After a run of positivity last week, the preferred market opened this week with weakness.

On top of secondary trading, Capital One Financial Corp.’s 4.8% series J and 5% series I fixed-rate non-cumulative perpetual preferred stocks both declined.

The series J preferreds were down $1.29 to close at $20.49 on volume of about 541,000 shares.

The series I preferreds trailed by $1.15 to close at $22.16 on volume of about 470,000 shares.

Elsewhere in the finance space, Ally Financial Inc.’s 8.125% series A fixed-to-floating rate trust preferreds were pushed down 79 cents to close at $21.30 with about 481,000 shares trading.

Sector peer JPMorgan Chase & Co.’s 4.75% series GG non-cumulative preferreds declined by 49 cents to close at $24.20 on volume of about 422,000 shares.

Meanwhile, REIT AGNC Investment Corp.’s 6.5% series E fixed-to-floating rate cumulative redeemable preferreds lost $1.00 to close at $20.89 with about 473,000 shares trading.

Two Harbors Investment Corp.’s 7.625% series B fixed-to-floating rate cumulative redeemable preferreds trailed by 75 cents to close at $19.01 on volume of about 415,000 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.