Bank of America improves; AGNC preferreds positive; Athene lifted

By James McCandless

San Antonio, Sept. 30 – The preferred space started the week with varying movement as top traders trended positively.

As the volume leader, Bank of America Corp.’s 5% series LL non-cumulative preferred stock improved by the close.

The preferreds were up 2 cents to close at $25.66 on volume of about 3.3 million shares.

Elsewhere in finance, Wells Fargo & Co.’s 5.85% series Q fixed-to-floating rate non-cumulative perpetual class A preferreds sank.

The preferreds dropped 32 cents to close at $26.42 with about 1.1 million shares.

Meanwhile, REIT AGNC Investment Corp.’s new 6.5% series E fixed-to-floating rate cumulative redeemable preferreds were positive.

The preferreds picked up 14 cents to close at $25.05 on volume of about 1.2 million shares.

Sector peer Public Storage, Inc.’s 4.875% series I cumulative preferred shares were seen improving.

The preferreds tacked on 10 cents to close at $26.26 with about 1.1 million shares.

Retirement name Athene Holding Ltd.’s 5.625% series B fixed-rate perpetual non-cumulative preference shares were lifted.

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