JPMorgan preferreds gain; MetLife better; Annaly Capital preferreds negative

By James McCandless

San Antonio, April 28 – Tuesday’s preferred stock session ended with more positivity carrying over from Monday.

Leading secondary trading, JPMorgan Chase & Co.’s 6% series EE non-cumulative preferreds were up 6 cents to close at $26.96 on volume of about 541,000 shares.

Elsewhere in the finance space, Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities improved by 47 cents to close at $21.93 with about 376,000 shares trading.

Sector peer Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferred securities gained 38 cents to close at $26.96 on volume of about 243,000 shares.

Insurance company MetLife, Inc.’s 4.75% series F non-cumulative preferreds moved up 8 cents to close at $24.32 with about 227,000 shares trading.

Meanwhile, asset manager Annaly Capital Management, Inc.’s 6.95% series F fixed-to-floating rate cumulative redeemable preferreds declined by 17 cents to close at $21.00 on volume of about 222,000 shares.

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