U.S. Bancorp’s new preferreds improve; Oaktree Capital edges higher; KeyCorp rises

By James McCandless

San Antonio, Aug. 17 – Trading in the preferred market continued to focus on newer issues to close the week.

U.S. Bancorp’s new $575 million of 5.5% series K non-cumulative perpetual preferred stock gained again.

Oaktree Capital Group, LLC’s 6.55% series B preferred units edged higher.

KeyCorp’s 5.65% series F perpetual non-cumulative preferred stock rose at the end of Friday trading.

U.S. Bancorp up

U.S. Bancorp’s 5.5% series K non-cumulative perpetual preferred stock ended the week maintaining the positive trend that the securities started on Monday.

The preferreds (NYSE: USBPrP) were up 5 cents to close at $25.20 on volume of about 321,000 shares.

On Thursday, the preferreds gained 2 cents.

The deal priced on Aug. 7.

Oaktree gains

Oaktree Capital’s 6.55% series B preferred units ended the week improving.

The preferreds (NYSE: OAKPrB) were up 1 cent to close at $25.00 with about 246,000 shares trading.

KeyCorp rises

KeyCorp’s 5.65% series F perpetual non-cumulative preferred stock rose in Friday trading.

The preferreds (NYSE: KEYPrJ) were up 6 cents to close at $24.85 on volume of about 229,000 shares.

Indexes up

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.09% at market close, reversing a 0.01% decline in early trading on Friday.

The iShares US Preferred Stock ETF was up 9 cents to $37.56. The ETF picked up 9 cents on Thursday.

© 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.