| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Review > Headlines for 2017 > News item |
Preferreds weaken over session; Golar improves; new Gamco, RiverNorth preferreds slip
By Cristal Cody
Tupelo, Miss., Oct. 30 – Preferred stocks opened the session better but ended Monday mostly weaker.
The Wells Fargo Hybrid and Preferred Securities index fell 17 basis points over the day.
The U.S. iShares Preferred Stock ETF closed off 26 bps.
Golar LNG Partners LP’s new 8.75% series A perpetual cumulative redeemable preferred units were flat at $25.00 at the start of the day but closed higher at $25.09.
Golar LNG Partners sold $120 million of the preferred units on Tuesday at $25.00 per unit.
The preferreds were issued the temporary symbol “GOLPF” on Wednesday.
The Hamilton, Bermuda-based owner and operator of liquid natural gas carriers will apply to list the preferred units on the Nasdaq Global Select Market under the symbol “GMLPP.”
In other trading on Monday, Gamco Natural Resources Gold & Income Trust’s 5.2% series A cumulative preferreds that priced in the previous week remained down 7 cents, or 0.28%, at $24.73 going out.
Gamco Natural Resources Gold & Income Trust priced $30 million of the preferreds in a 1.2 million share offering on Oct. 23.
The preferreds were freed to trade after pricing under the temporary symbol “GNGTP”.
The preferreds are expected to start trading on the New York Stock Exchange under the symbol “GNTPrA” within 30 days of issuance.
In other trading, RiverNorth Marketplace Lending Corp.’s 5.875% series A term preferred shares due Oct. 31, 2024 (NYSE: RMPL) closed off 1 cent, or 0.04%, at $25.07.
The 5.875% series A term preferred shares due Oct. 31, 2024 were listed on the NYSE under the symbol “RMPL” on Thursday.
The Chicago-based closed-end management investment company sold $36 million, or 1.44 million shares, of the 5.875% series A term preferreds at par with a $25.00 liquidation preference on Oct. 18.
© 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.