AT&T preferreds decline; NuStar Energy pushes upward; JPMorgan negative

By James McCandless

San Antonio, Dec. 24 – The preferred market closed a day shortened by the Christmas holiday with an overall improvement, though volume leaders’ performance varied.

Leading the volume again, AT&T Inc.’s 5% series A perpetual preferred stock saw a decline by the close. The preferreds were down 5 cents to close at $25.95 on volume of about 421,000 shares.

Meanwhile, in oil and gas, NuStar Energy LP’s 7.625% series B fixed-to-floating rate cumulative redeemable perpetual preferred units pushed upward, improving by 17 cents to close at $21.94 with about 413,000 shares trading.

Financial services name JPMorgan Chase & Co.’s 6.1% series AA non-cumulative preferreds took a negative turn, shaving off 1 cent to close at $25.74 on volume of about 255,000 shares.

Sector peer AXA Equitable Holdings, Inc.’s 5.25% series A non-cumulative preferreds ended the session on a high note, rising12 cents to close at $25.95 with about 155,000 shares trading.

Elsewhere, real estate investment trust Public Storage’s 4.75% series K cumulative preferred shares followed the day’s trend, losing 1 cent to close at $25.32 on volume of about 154,000 shares.

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