Capital One preferreds positive; AGNC weaker; SoCal Edison closes better

By James McCandless

San Antonio, Oct. 4 – The preferred market ended the week on a positive shift with top traders seeing improvements.

Capping off the week in first position, Capital One Financial Corp.’s 5% series I fixed-rate non-cumulative perpetual preferred stock moved up.

The preferreds were up 11 cents to close at $24.93 on volume of about 332,000 shares.

Elsewhere in finance, Bank of America Corp.’s 5% series LL non-cumulative preferred stock also ended on better footing.

The preferreds gained 5 cents to close at $25.68 with about 261,000 shares trading.

REIT AGNC Investment Corp.’s 6.5% series E fixed-to-floating rate cumulative redeemable preferreds finished weaker.

The preferreds declined by 3 cents to close at $25.11 on volume of about 328,000 shares.

Sector peer Digital Realty Trust, Inc.’s new 5.2% series L cumulative redeemable preferred stock rose.

The preferreds moved up 3 cents to close at $25.13 with about 322,000 shares trading.

In utilities, Southern California Edison, a subsidiary of Edison International, saw its 5.45% cumulative fixed-to-floating rate trust preference securities close better.

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