JPMorgan positive; Compass preferreds improve; PS Business better

By James McCandless

San Antonio, Nov. 27 – The preferred space ended Wednesday with a broad decline, though top traders saw gains.

Leading secondary activity, JPMorgan Chase & Co.’s 4.75% series GG non-cumulative preferreds shares were up 6 cents to close at $25.24 on volume of about 1.1 million shares.

Elsewhere in finance, Synchrony Financial’s 5.625% series A non-cumulative perpetual preferreds jumped up 22 cents to close at $25.71 with about 1.1 million shares trading.

Sector peer Goldman Sachs Group, Inc.’s series D floating rate non-cumulative preferred stock added 14 cents to close at $23.13 on volume of about 734,000 shares.

Middle market name Compass Diversified Holdings LLC’s 7.875% series C cumulative preferred shares rose 20 cents to close at $25.15 with about 661,000 shares trading.

Meanwhile, REIT PS Business Parks, Inc.’s 4.875% series Z cumulative preferred shares picked up 3 cents to close at $25.08 on volume of about 632,000 shares.

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