Capital One improves; AGNC preferreds dip; Southern California Edison active, flat

By James McCandless

San Antonio, Feb. 7 – At the end of the week’s trading, the preferred space’s top traders diverged in direction.

Finishing at the top of the secondary, Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferred shares were up 6 cents to close at $24.92 on volume of about 1.1 million shares.

Elsewhere in the finance space, Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred shares gained 13 cents to close at $25.42 with about 1 million shares trading.

REIT AGNC Investment Corp.’s new 6.125% series F fixed-to-floating rate cumulative redeemable preferreds saw a dip.

The preferreds, trading under the temporary symbol “AINGZ,” shed 6 cents to close at $24.94 on volume of about 897,000 shares.

Sector peer PS Business Parks, Inc.’s 5.25% series X cumulative preferred shares jumped up 69 cents to close at $27.53 with about 383,000 shares trading.

Meanwhile, utilities name Southern California Edison, a subsidiary of Edison International, saw its 5% cumulative trust preference securities end level on high activity.

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