Chicken Soup for the Soul on deck; JPMorgan preferreds dip; AT&T lifted

By James McCandless

San Antonio, July 6 – At the beginning of a new week, the preferred market was largely positive Monday, although there was some deviation among top traders.

In primary activity, Chicken Soup for the Soul Entertainment, Inc. plans to price a $25 million offering of $25-par notes due July 31, 2025.

On top of the secondary space, JPMorgan Chase & Co.’s 6% series EE non-cumulative preferred stock dipped.

Elsewhere in the finance space, Bank of America Corp.’s 5% series LL non-cumulative preferred stock was carried higher.

Telecom services company AT&T Inc.’s 4.75% series C perpetual preferred stock was lifted as the afternoon ended.

Meanwhile, REIT AGNC Investment Corp.’s 6.125% series F fixed-to-floating rate cumulative redeemable preferreds gained ground.

Oil and gas name Energy Transfer Operating, LP’s 7.375% series C and 7.625% series D fixed-to-floating rate cumulative redeemable perpetual preferred units were under pressure.

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