Goldman Sachs preferreds trend higher; Southern California Edison jumps; AmTrust better

By James McCandless

San Antonio, Feb. 1 – The preferred space continued to take a positive direction at the close of another week.

Leading trading, Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferreds trended higher.

The preferreds (NYSE: GSPrD) were up 25 cents to close at $18.90 on volume of about 739,000 shares trading.

Elsewhere in finance, JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock and recent 6% series EE non-cumulative preferred stock gained.

The series EE preferreds (NYSE: JPMPrC) picked up 4 cents to close at $25.61 with about 483,000 shares trading.

The series DD preferreds (NYSE: JPMPrD) added 15 cents to close at $25.05 with about 421,000 shares trading.

In utilities, Southern California Edison, a subsidiary of Edison International, saw its 5.375% fixed-to-floating rate trust preferreds jump up.

The preferreds (NYSE: SCEPrJ) saw a 65 cent boost to close at $20.45 on volume of about 720,000 shares.

Insurer AmTrust Financial Services, Inc.’s 6.95% series F non-cumulative preferred stock improved.

The preferreds (NYSE: AFSIPrF) gained 41 cents to close at $9.02 with about 697,000 shares trading.

Telecom name Qwest Corp.’s 6.125% notes due 2053 took a dip.

The notes (NYSE: CTY) lost 15 cents to close at $21.44 on volume of about 434,000 notes.

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