Capital One preferreds push higher; Monmouth slips; AGNC moves up

By James McCandless

San Antonio, Nov. 4 – In the middle of the week, the preferred market trended towards positive territory.

Leading the secondary space Wednesday, Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferreds were up 10 cents to close at $24.94 on volume of about 557,000 shares.

Also in the finance space, Bank of America Corp.’s 4.375% series NN non-cumulative preferreds gained 14 cents to close at $25.04 with about 518,000 shares trading.

Sector peer Morgan Stanley’s 6.875% series F fixed-to-floating rate non-cumulative preferreds tacked on 16 cents to close at $28.10 on volume of about 416,000 shares.

REIT Monmouth Real Estate Investment Corp.’s 6.125% series C cumulative redeemable preferreds shaved off 1 cent to close at $24.89 with about 301,000 shares trading.

Elsewhere, AGNC Investment Corp.’s 6.5% series E fixed-to-floating rate cumulative redeemable preferreds picked up 1 cent to close at $22.00 on volume of about 252,000 shares.

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