JPMorgan preferreds mixed; AmTrust heads higher; Southern California Edison jumps

By James McCandless

San Antonio, Jan. 30 – The preferred space, already on a positive trend Wednesday, received a boost after the Federal Reserve signaled that interest rates would not rise in the near term.

Leading secondary trading volume, JPMorgan Chase & Co.’s recent 6% series EE non-cumulative preferred stock and its 5.75% series DD non-cumulative preferred stock saw a mixed session.

The 6% preferreds, trading under the temporary symbol “JPEEL,” were up 14 cents to close at $25.59 on volume of about 1 million shares.

The 5.75% preferreds (NYSE: JPMPrD) edged down 1 cent to close at $25.02 on volume of about 550,000 shares.

Elsewhere in finance, Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferreds gained.

The preferreds (NYSE: GSPrD) picked up 6 cents to close at $19.11 with about 459,000 shares trading.

Insurer AmTrust Financial Services, Inc.’s 6.95% series F non-cumulative preferreds were also positive.

The preferreds (NYSE: AFSIPrF) jumped 83 cents to close at $8.35 on volume of about 417,000 shares.

Meanwhile, in utilities, Southern California Edison, a subsidiary of Edison International, saw its 5.35% cumulative fixed-to-floating rate trust preference securities close upward.

The preferreds (NYSE: SCEPrJ) rose 35 cents to close at $20.48 with about 413,000 shares trading.

© 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.