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AT&T preferreds improve; Ally Financial lifted; AGNC shoots higher
By James McCandless
San Antonio, March 19 – In the back half of the week, the preferred space saw gains across the spectrum on Thursday.
On top of secondary trading, telecom name AT&T Inc.’s 4.75% series C perpetual preferred shares were up $1.89 to close at $17.89 on volume of about 2.2 million shares.
Meanwhile, in the finance space, Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities gained 83 cents to close at $16.50 with about 1.2 million shares trading.
Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred stock picked up $2.27 to close at $18.60 on volume of about 1 million shares.
REIT AGNC Investment Corp.’s 6.125% series F fixed-to-floating rate cumulative redeemable preferreds jumped up $5.11 to close at $15.01 with about 1.1 million shares trading.
Elsewhere, retirement services provider Athene Holding Ltd.’s 6.35% series A fixed-to-floating rate perpetual non-cumulative preference shares fell by $1.39 to close at $13.08 on volume of about 441,000 shares.
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