Brighthouse under water; Bank of America better; Air Lease preferreds dive

By James McCandless

San Antonio, Dec. 1 – Moving into the Tuesday session, the preferred market saw overall gains though top traders diverged.

Moving along the top of secondary volume, insurance name Brighthouse Financial, Inc.’s 5.375% series C non-cumulative perpetual preferreds were down 5 cents to $25.96 on volume of about 938,000 shares.

Meanwhile, in the finance space, Bank of America Corp.’s 4.375% series NN non-cumulative preferreds picked up 1 cent to close at $25.95 with about 605,000 shares trading.

Sector peer Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferreds improved by 10 cents to close at $25.29 on volume of about 401,000 shares trading.

Aircraft leasing services name Air Lease Corp.’s 6.15% series A fixed-to-floating rate non-cumulative perpetual preferred stock dived.

Elsewhere, REIT AGNC Investment Corp.’s 6.125% series F fixed-to-floating rate cumulative redeemable preferreds ended on the positive side.

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