People’s United preferreds slightly better; Chimera positive; Qwest $25-par notes rise

By James McCandless

San Antonio, Feb. 25 – A mixed session to start a new week in the preferred space yielded modest movements for top traders.

At the top of the secondary, People’s United Financial, Inc.’s 5.625% series A fixed-to-floating rate non-cumulative perpetual preferreds ended slightly better.

The preferreds (Nasdaq: PBCTP) were up 1 cent to close at $24.11 on volume of about 434,000 shares.

Elsewhere in finance, JPMorgan Chase & Co.’s 6% series EE and 5.75% series DD non-cumulative preferred stock closed mixed.

The series EE preferreds (NYSE: JPMPrC) added 6 cents to close at $26.09 with about 390,000 shares trading.

The series DD preferreds (NYSE: JPMPrD) lost 8 cents to close at $25.33 with about 298,000 shares trading.

Stifel Financial Corp.’s recent 6.25% series B non-cumulative preferred stock declined.

The preferreds, trading under the temporary symbol “SFEIP,” dropped 4 cents to $25.18 on volume of about 292,000 shares.

Real estate investment trust Chimera Investment Corp.’s 8% series B fixed-to-floating rate cumulative redeemable preferreds were on the rise.

The preferreds (NYSE: CIMPrB) traded up 11 cents to close at $25.70 with about 423,000 shares trading.

Telecom name Qwest Corp.’s 6.125% notes due 2053 ended the session positive.

The notes (NYSE: CTY) were up 2 cents to close at $23.77 on volume of about 320,000 notes.

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