Morning Commentary: Preferreds open mostly positive; Monmouth improves in early trading

By Cristal Cody

Tupelo, Miss., Oct. 10 – Preferred shares opened Tuesday mostly positive following the long holiday weekend.

The Wells Fargo Hybrid and Preferred Securities index opened up 25 basis points.

The U.S. iShares Preferred Stock ETF was up 13 bps.

Monmouth Real Estate Investment Corp.’s 6.125% series C cumulative redeemable preferreds were active over the morning and traded up 22 cents, or 0.88%, to $25.22. The notes trade on the New York Stock Exchange under the symbol “MNR-PC.”

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