U.S. Bancorp preferreds decline; Monmouth active, flat; AGNC drops

By James McCandless

San Antonio, Nov. 6 – To finish off the week, the preferred market saw a reversal of some of the gains made earlier in the week.

Leading the secondary volume, U.S. Bancorp’s 6.5% series F and 3.75% series L non-cumulative perpetual preferred stocks both declined.

The series F preferreds were down 4 cents to close at $26.42 on volume of about 932,000 shares.

The series Q preferreds chalked off 15 cents to close at $24.31 on volume of about 129,000 shares.

Elsewhere in the finance space, Bank of America Corp.’s 4.375% series NN non-cumulative preferreds shaved off 13 cents to close at $25.28 with about 543,000 shares trading.

Sector peer Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferreds slipped 2 cents to close at $24.95 on volume of about 186,000 shares.

REIT Monmouth Real Estate Investment Corp.’s 6.125% series C cumulative redeemable preferreds held level to close at $24.90 with about 108,000 shares trading.

Also, AGNC Investment Corp.’s 6.5% series E fixed-to-floating rate cumulative redeemable preferreds moved down 13 cents to close at $21.90 on volume of about 97,000 shares.

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