Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
AT&T preferreds decline; Capital One better; New Residential improves
By James McCandless
San Antonio, Feb. 21 – The end of the week in the preferred market saw trading skew negative, continuing the week’s overall direction.
Leading secondary activity, telecom company AT&T, Inc.’s 4.75% series C perpetual preferred stock saw a decline.
Meanwhile, in the finance space, Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferred stock finished better.
Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferreds were active but flat.
Elsewhere, REIT New Residential Investment Corp.’s 6.375% series C fixed-to-floating rate cumulative redeemable preferred stock saw positive movement.
AGNC Investment Corp.’s 6.125% series F fixed-to-floating rate cumulative redeemable preferred stock declined.
AT&T lower
Leading Friday’s secondary activity, telecom services company AT&T’s 4.75% series C perpetual preferred stock saw a decline.
The preferreds (NYSE: TPrC) were down 6 cents to close at $25.15 on volume of about 1.6 million shares.
On Thursday, the preferreds tacked on 3 cents.
Capital One up
Meanwhile, leading in the finance space, Capital One’s 4.8% series J fixed-rate non-cumulative perpetual preferred stock finished the session in a better position.
The preferreds (NYSE: COFPrJ) gained 1 cent to close at $25.02 with about 961,000 shares trading.
On Thursday, the preferreds rose 7 cents.
Sector peer Wells Fargo’s 4.75% series Z non-cumulative perpetual class A preferreds were relatively active but flat.
The preferreds (NYSE: WFCPrZ) went unchanged to close at $25.50 on volume of about 569,000 shares.
On Thursday, the preferreds shot up 15 cents.
New Residential gains
Elsewhere, real estate investment trust New Residential’s 6.375% series C fixed-to-floating rate cumulative redeemable preferred stock was positive at the end of the afternoon.
The preferreds (NYSE: NRZPrC) inched up 1 cent to close at $24.96 with about 542,000 shares trading.
On Thursday, the preferreds garnered 8 cents.
AGNC’s 6.125% series F fixed-to-floating rate cumulative redeemable preferred stock declined as the session finished.
The preferreds (Nasdaq: AGNCP) lost 3 cents to close at $24.98 on volume of about 432,000 shares.
Indexes down
The Wells Fargo Hybrid & Preferred Securities Financial index settled the week down by 0.26%, extending a 0.06% dip from early Friday trading.
The iShares US Preferred Stock ETF was down 11 cents to $38.05.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.