Goldman Sachs flat; Southern California Edison jumps; Cherry Hill preferreds improve

By James McCandless

San Antonio, Feb. 8 – At the week’s close, the preferred market was trading mixed on moderate volume.

Leading secondary volume, Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferred stock was active but flat.

The preferreds (NYSE: GSPrD), while trading as high as $18.50, settled back down at $18.35 on volume of about 465,000 shares.

Elsewhere in finance, JPMorgan Chase & Co.’s recent 6% series EE non-cumulative preferred stock and its 5.75% series DD non-cumulative preferred stock continued to trade in opposite directions.

The series EE preferreds (NYSE: JPMPrC) were down 4 cents to close at $25.63 with about 313,000 shares trading.

The series DD preferreds (NYSE: JPMPrD) were up 2 cents to close at $25.05 with about 302,000 shares trading.

In utilities, Southern California Edison, a subsidiary of Edison International, saw its 5% cumulative trust preferred securities also jump.

The preferreds (NYSE: SCEPrL) added 85 cents to close at $20.00 with about 464,000 shares trading.

Real estate investment trust Cherry Hill Mortgage Investment Corp.’s recent 8.25% series B fixed-to-floating rate cumulative redeemable preferred stock ended higher.

The preferreds, trading under the temporary symbol “CRYIP,” were up 8 cents to close at $24.90 on volume of about 174,000 shares.

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