Public Storage preferreds positive; Ally Financial better; Athene declines

By James McCandless

San Antonio, June 19 – At the end of the week, the preferred market ended on mixed footing with the most active traders diverging.

Leading the activity in the secondary, REIT Public Storage’s 4.625% series L cumulative preferred shares were up 2 cents to close at $24.90 on volume of about 426,000 shares.

Sector peer Chimera Investment Corp.’s 8% series B fixed-to-floating rate cumulative redeemable preferreds declined by 42 cents to close at $19.60 with about 134,000 shares trading.

Meanwhile, Athene Holding Ltd.’s 6.375% series C fixed-rate reset perpetual non-cumulative preference shares moved down 12 cents to close at $25.00 on volume of about 353,000 shares.

Elsewhere, in the finance space, Ally Financial Inc.’s 8.125% series 2 fixed-to-floating trust preferred securities gained 13 cents to close at $22.71 with about 292,000 share trading.

JPMorgan Chase & Co.’s 6.1% series AA non-cumulative preferred shares chalked off 3 cents to close at $25.30 on volume of about 154,000 shares.

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