JPMorgan preferreds decline; Annaly Capital dives; Chimera weaker

By James McCandless

San Antonio, May 1 – At the end of a predominately positive week, the preferred market finished with a negative push.

At the top of the secondary, JPMorgan Chase & Co.’s 4.75% series GG non-cumulative preferreds were down 10 cents to close at $24.80 on volume of about 339,000 shares.

Elsewhere in the finance space, Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities shed 41 cents to close at $22.14 with about 233,000 shares trading.

Sector peer Citigroup Capital XIII’s 7.785% fixed-to-floating rate trust preferred securities gained 9 cents to close at $26.86 on volume of about 205,000 shares.

Asset manager Annaly Capital Management, Inc.’s 6.95% series F fixed-to-floating rate cumulative redeemable preferreds dived 80 cents to close at $21.72 with about 218,000 shares trading.

Meanwhile, REIT Chimera Investment Corp.’s 8% series B fixed-to-floating rate cumulative redeemable preferreds shifted down 54 cents to close at $17.18 on volume of about 190,000 shares.

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