Ally Financial negative; AT&T preferreds lose; New Residential jumps

By James McCandless

San Antonio, April 21 – As the session came to a close on Tuesday, the preferred space continued a downward trend for a second day.

On top of the secondary again, Ally Financial Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities were down 18 cents to close at $20.36 on volume of about 428,000 shares.

Elsewhere in the finance space, Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferred securities trailed by 77 cents to close at $26.46 with about 348,000 shares trading.

Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferreds declined by 41 cents to close at $22.52 on volume of about 338,000 shares.

Telecom company AT&T Inc.’s 4.75% series C perpetual preferreds gave back 31 cents to close at $22.70 with about 394,000 shares trading.

Meanwhile, REIT New Residential Investment Corp.’s 6.375% series C fixed-to-floating rate cumulative redeemable preferreds improved by $1.68 to close at $15.25 on volume of about 249,000 shares.

© 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.