JPMorgan preferreds gain; Southern California Edison declines; Energy Transfer jumps

By James McCandless

San Antonio, Jan. 25 – Closing out a holiday-shortened week, the preferred space was seen broadly improving by the Friday close.

Leading trading volume again, JPMorgan Chase & Co.’s recent 6% series EE non-cumulative preferred stock and its 5.75% series DD non-cumulative preferred stock gained for a third day.

The series EE preferreds, trading under the temporary symbol “JPEEL,” were up 2 cents to close at $25.35 on volume of about 3.3 million shares.

The series DD preferreds (NYSE: JPMPrD) were up 10 cents to close at $25.33 on volume of about 324,000 shares.

Elsewhere in finance, Citizens Financial Group, Inc.’s new 6.35% series D fixed-to-floating rate non-cumulative perpetual preferred stock climbed.

The preferreds, trading under the temporary symbol “CFGLL,” rose 7 cents to close at $25.33 with about 330,000 shares trading.

Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferreds were on a positive track.

The preferreds (NYSE: GSPrD) gained 6 cents to close at $19.24.

Southern California Edison saw its 5% cumulative trust preferred securities decline.

The preferreds (NYSE: SCEPrL) lost 24 cents to close at $18.02.

Energy Transfer Partners, LP’s 7.375% series C fixed-to-floating rate cumulative redeemable perpetual preferred units jumped higher.

The preferreds (NYSE: ETPPrC) added 34 cents to close at $24.14.

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