AT&T ends positive; Citigroup preferreds spike; Annaly Capital better

By James McCandless

San Antonio, July 24 – Concluding the week, top traders in the preferred space sustained the upward trend from the preceding days.

Leading the secondary activity, AT&T, Inc.’s 4.75% series C perpetual preferred shares were up 4 cents to close at $24.66 on volume of about 377,000 shares.

Meanwhile, in the finance space, Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferred securities jumped up 33 cents to close at $27.71 with about 319,000 shares trading.

Sector peer JPMorgan Chase & Co.’s 4.75% series GG non-cumulative preferred stock gained while the 6.1% series AA non-cumulative preferreds fell.

The series GG preferreds tacked on 12 cents to close at $26.90 on volume of about 301,000 shares trading.

The series AA preferreds shaved off 4 cents to close at $25.52 on volume of about 194,000 shares.

Wells Fargo & Co.’s 5.85% series Q fixed-to-floating rate non-cumulative perpetual class A preferred shares dropped 11 cents to close at $24.92 with about 166,000 shares trading.

Elsewhere, REIT Annaly Capital Management, Inc.’s 6.95% series F fixed-to-floating rate cumulative redeemable preferred shares grabbed 5 cents to close at $21.87 on volume of about 144,000 shares.

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