Morning Commentary: AGNC and AT&T preferreds slide amid a mixed broader market

By James McCandless

San Antonio, April 16 – The preferred market began the week muted, as early trading was mixed.

AGNC Investment Corp. saw its series B preferreds drop in early Monday trading, outpacing its average volume more than 4 times with more than 55,000 shares changing hands.

The company paid out its quarterly dividend on the shares last week.

The preferreds were down 12 cents in early trading at $25.40.

AGNC is a Bethesda, Md.-based real estate investment trust.

AT&T Inc. started the week with its preferreds down as traders continue to watch its antitrust trial against the Department of Justice over its attempted merger with Time Warner.

So far on Monday 42,000 shares have changed hands, as both sides in the lawsuit continue to argue over whether the merger would hurt consumers or not.

The preferreds were down 1 cent at $25.06.

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.03% Monday morning continuing the 0.01% gain at the end of trading on Friday.

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