JPMorgan’s preferreds improve; NiSource moves higher; NuStar Energy preferreds decline

By James McCandless

San Antonio, Dec. 10 – Preferreds were mixed in light trading on Monday as the broader equity markets remained volatile.

Leading the secondary was JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferreds, which improved.

The preferreds (NYSE: JPMPrD) were up 4 cents to close at $24.69 on volume of about 478,000 shares.

Elsewhere in finance, Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferreds and its 5.5% series J fixed-to-floating rate perpetual non-cumulative preferreds were mixed again.

The series D preferreds (NYSE: GSPrD) picked up 11 cents to close at $18.48 with about 411,000 shares trading.

The series J preferreds (NYSE: GSPrJ) were level at $24.28 with about 345,000 shares trading.

Bank of America Corp.’s 5.875% series HH non-cumulative preferred stock declined.

The preferreds (NYSE: BACPrK) fell 3 cents to close at $24.04 on volume of about 338,000 shares.

Utilities name NiSource Inc.’s recent $500 million series B fixed-rate reset cumulative redeemable perpetual preferred stock gained. The preferreds, trading under the temporary symbol “NISOP,” picked up 5 cents to close at $24.95 with about 273,000 shares trading.

In energy, NuStar Energy LP’s 7.625% series B fixed-to-floating rate cumulative perpetual preferreds traded down. The preferreds (NYSE: NSPrB) were down 3 cents to close at $18.89 on volume of about 235,000 shares.

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