GasLog’s new preferreds sink further; Bank of America declines; Energy Transfer down

By James McCandless

San Antonio, Nov. 9 – The end of the week in preferred trading saw a broad decline with a late boost.

GasLog Partners LP’s $100 million 8.5% series C cumulative redeemable perpetual fixed-to-floating rate preference units fell further under par.

The preferreds, trading under the temporary symbol “GLOUF,” lost 33 cents to close at $24.49 on volume of about 487,000 shares.

On Thursday, the preferreds ended at $24.82 on its first trading day.

In the finance sector, Bank of America Corp.’s 5.875% series HH non-cumulative preferreds also moved lower.

The preferreds (NYSE: BACPrK) were down 2 cents to close at $24.76 with about 432,000 shares trading.

U.S. Bancorp’s 5.5% series K non-cumulative perpetual preferreds joined the negative trend.

The preferreds (NYSE: USBPrP) were down 2 cents to close at $24.69 on volume of about 264,000 shares.

JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock ended level.

The preferreds (JPMPrD) were flat at $24.24 with about 176,000 shares trading.

Elsewhere, Energy Transfer Partners, LP’s 7.625% series D fixed-to-floating rate cumulative preferreds fell.

The preferreds (NYSE: ETPPrD) were off 22 cents to close at $25.03 on volume of about 141,000 shares.

On Wednesday, the company reported a profit of 32 cents per share for the third quarter.

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