AT&T positive; Truist under pressure; MetLife preferreds weaken

By James McCandless

San Antonio, July 30 – As the Thursday session in the preferred market came to an end, top traders yielded mixed results.

Leading secondary trading, telecom name AT&T, Inc.’s 4.75% series C perpetual preferred stock were up 4 cents to close at $25.08 on volume of about 290,000 shares.

Meanwhile, in the finance space, Truist Financial Corp.’s 5.25% series O non-cumulative perpetual preferred shares were pushed down 26 cents to close at $26.70 with about 271,000 shares trading.

Sector peer JPMorgan Chase & Co.’s 6% series EE non-cumulative preferred stock gained while its 5.75% series DD non-cumulative preferreds slipped.

The series EE preferreds gained 12 cents to close at $28.82 on volume of about 181,000 shares trading.

The series DD preferreds shaved off 1 cent to close at $28.20 on volume of about 165,000 shares.

Ally Financial Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities were docked 2 cents to close at $23.95 with about 157,000 shares trading.

Elsewhere, insurance provider MetLife, Inc.’s 4.75% series F non-cumulative preferred shares dipped 4 cents to close at $25.66 on volume of about 136,000 shares.

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