Annaly Capital improves; Voya preferreds negative; Capital One better

By James McCandless

San Antonio, July 5 – At the end of the Independence Day week, the preferred space declined overall as top traders trended higher.

REIT Annaly Capital Management, Inc.’s 6.75% series I fixed-to-floating rate cumulative redeemable perpetual preferred stock saw a slight improvement.

Meanwhile, Voya Financial, Inc.’s 5.35% series B fixed-rate reset non-cumulative preferred stock followed the market’s trend.

Elsewhere, in finance, Capital One Financial Corp.’s 6.7% series D fixed-rate non-cumulative perpetual preferreds ended positively.

Sector peer Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities edged up.

Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferred securities also rose by the end of the day.

Annaly Capital improves

Real estate investment trust Annaly Capital’s 6.75% series I fixed-to-floating rate cumulative redeemable perpetual preferred stock saw a slight improvement to cap off the week.

The preferreds (NYSE: NLYPrI) were up 1 cent to close at $25.08 on volume of about 285,000 shares.

On Wednesday, the preferreds added 10 cents.

Voya lower

Meanwhile, employee benefits company Voya’s 5.35% series B fixed-rate reset non-cumulative preferreds followed the broader market downward.

The preferreds (NYSE: VOYAPrB) shaved off 5 cents to close at $25.22 with about 198,000 shares trading.

Capital One up

Elsewhere, in the finance space, Capital One’s 6.7% series D fixed-rate non-cumulative perpetual preferreds ended positively.

The preferreds (NYSE: COFPrD) rose 2 cents to close at $25.55 on volume of about 99,000 shares.

Sector peer Ally Financial’s 8.125% series 2 fixed-to-floating rate trust preferred securities were also pushing higher.

The preferreds (NYSE: ALLYPrA) picked up 13 cents to close at $26.40 with about 96,000 shares trading.

Citigroup’s 7.875% fixed-to-floating rate trust preferred securities were also on the rise at the end of the day.

The preferreds (NYSE: CPrN) gained 5 cents to close at $28.00 on volume of about 95,000 shares.

Indexes down

The Wells Fargo Hybrid & Preferred Securities Financial index was down 0.24% by the end of the session, increasing a 0.19% drop from early Friday trading.

The iShares US Preferred Stock ETF was down 11 cents to $36.85.

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