JPMorgan preferreds improve; Qwest $25-par notes mixed; Southern California Edison gains

By James McCandless

San Antonio, Feb. 15 – The broad preferred space closed higher despite top traders yielding mixed results.

JPMorgan Chase & Co.’s 6% series EE non-cumulative preferred stock improved in the finance space.

The preferreds (NYSE: JPMPrC) were up 9 cents to close at $26.02 on volume of about 779,000 shares.

Sector peer Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferred securities also closed upward.

The preferreds (NYSE: CPrN) gained 4 cents to close at $26.48 with about 262,000 shares trading.

In telecom, Qwest Corp.’s 6.125% notes due 2053 and its 6.5% notes due 2056 ended the session mixed.

The 6.125% notes (NYSE: CTY) picked up 34 cents to close at $23.34 on volume of about 503,000 notes.

The 6.5% notes (NYSE: CTBB) traded down 12 cents to close at $22.52 on volume of about 309,000 notes.

AT&T, Inc.’s 5.35% global notes due 2066 declined.

The notes (NYSE: TBB) fell 10 cents to $24.69 with about 317,000 notes trading.

Electric utility Southern California Edison, a subsidiary of Edison International, saw its 5% cumulative trust preferred securities close positive.

The preferreds (NYSE: SCEPrL) were up 16 cents to close at $20.97 on volume of about 452,000 shares.

On Thursday, the preferreds saw a 30 cent boost.

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