| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Review > Headlines for 2020 > News item |
Morning Commentary: Annaly Capital preferreds climb; New York Mortgage, Wells Fargo up
By James McCandless
San Antonio, April 8 – The preferred space saw more positive movements heading into the midpoint of the week as the Wells Fargo Hybrid & Preferred Securities Financial index began up by 0.07%.
Leading Wednesday morning activity, Annaly Capital Management, Inc.’s 6.95% series F and 6.75% series I fixed-to-floating rate cumulative redeemable preferred stocks were both climbing.
The series F preferreds (NYSE: NLYPrF) were up $1.79 to $20.78 on volume of about 230,000 shares.
The series I preferreds (NYSE: NLYPrI) were rising $1.62 to $20.72 on volume of about 149,000 shares.
The company sent a letter to shareholders after the Tuesday close emphasizing its financial stability in the face of the coronavirus pandemic.
Elsewhere, real estate investment trust New York Mortgage Trust, Inc.’s 7.875% series E fixed-to-floating rate cumulative redeemable preferred stock was receiving a boost.
The preferreds (Nasdaq: NYMTM) were shooting up $4.46 to $13.83 with about 178,000 shares trading.
Sector peer New Residential Investment Corp.’s 6.375% series C fixed-to-floating rate cumulative redeemable preferreds were following the early trend.
The preferreds (NYSE: NRZPrC) were gaining $2.81 to $13.96 on volume of about 102,000 shares.
Invesco Mortgage Capital’s 7.75% series A cumulative redeemable preferred stock opened on the positive side.
The preferreds (NYSE: IVRPrA) were adding $1.81 to $12.91 with about 90,000 shares trading.
Meanwhile, in the finance space, Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred stock shifted upward.
The preferreds (NYSE: WFCPrZ) were tacking on 44 cents to $21.74 on volume of about 90,000 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.