JPMorgan preferreds push higher; Duke Energy positive; AT&T $25-par notes improve

By James McCandless

San Antonio, April 15 – The preferred space opened a new week with a broad move higher by the close of trading.

Leading volume, JPMorgan Chase & Co.’s 6% series EE and 5% series DD non-cumulative preferreds were both pushing higher.

The series EE preferreds (NYSE: JPMPrC) were up 3 cents to close at $26.52 on volume of about 370,000 shares.

The series DD preferreds (NYSE: JPMPrD) were up 5 cents to close at $26.05 on volume of about 115,000 shares.

Elsewhere in finance, Morgan Stanley’s 5.85% fixed-to-floating rate non-cumulative preferred stock saw a boost.

The preferreds (NYSE: MSPrK) added 25 cents to close at $26.23 with about 243,000 shares trading.

Meanwhile, utilities name Duke Energy Corp.’s 5.75% series A cumulative redeemable perpetual preferred stock was also positive.

The preferreds (NYSE: DUKPrA) gained 4 cents to close at $25.77 on volume of about 231,000 shares.

Sector peer Southern California Edison, a subsidiary of Edison International, saw its 5% cumulative trust preference securities follow the day’s trend upward.

The preferreds (NYSE: SCEPrL) picked up 5 cents to close at $21.80 with about 129,000 shares trading.

In telecom, AT&T, Inc.’s 5.35% global notes due 2066 gained during Monday’s activity.

The notes (NYSE: TBB) rose 8 cents to close at $25.09.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.