Duke Energy preferreds edge upward; JPMorgan declines; AT&T $25-par notes improve

By James McCandless

San Antonio, April 30 – While the preferred market was dragged lower in Tuesday trading, volume leaders varied in direction.

Topping the secondary again, Duke Energy Corp.’s 5.75% series A cumulative redeemable perpetual preferred stock closed slightly higher.

The preferreds (NYSE: DUKPrA) were up 2 cents to close at $26.02 on volume of about 2.8 million shares.

On Monday, the preferreds picked up 7 cents.

Elsewhere, in finance, JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock was in decline.

The preferreds (NYSE: JPMPrD) fell 14 cents to close at $26.51 with about 1 million shares trading.

Sector peer Regions Financial Corp.’s recent 5.7% series C fixed-to-floating rate non-cumulative perpetual preferred stock was active but flat.

The preferreds, trading under the temporary symbol “RXFCL,” closed level at $25.40 on volume of about 689,000 shares.

Citigroup, Inc.’s 6.3% series S non-cumulative preferreds followed the day’s negative trend.

The preferreds (NYSE: CPS) lost 19 cents to close at $26.26 with about 621,000 shares trading.

Meanwhile, in telecom, AT&T, Inc.’s 5.35% global notes due 2066 saw an upward spike.

The notes (NYSE: TBB) were up 13 cents to close at $25.65 on volume of about 552,000 notes.

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