Bank of America preferreds end mixed; Qwest’s $25-par notes gain; QTS Realty improves

By James McCandless

San Antonio, Aug. 24 – Trading in the preferred market saw a late upward swing on Friday to close a volatile week.

Bank of America Corp.’s series HH and EE non-cumulative perpetual preferred stock were mixed.

The 5.875% series HH preferreds (NYSE: BACPrK) were up 5 cents to close at $25.52 on volume of about 288,000 shares.

The 6% series EE preferreds (NYSE: BACPrA) were level to close at $26.00 on volume of about 195,000 shares.

Qwest Corp., a wholly owned subsidiary of CenturyLink, Inc., saw two of its $25-par notes improving.

Qwest’s existing 6.5% notes due 2056 (NYSE: CTBB) were up 13 cents to close at $23.56 with about 272,000 notes trading.

The 6.75% notes due 2057 (NYSE: CTDD) were up 10 cents to close at $24.16 with about 200,000 notes trading.

QTS Realty Trust, Inc.’s 7.125% series A cumulative redeemable perpetual preferred stock rose on increased attention.

The preferreds (NYSE: QTSPrA) were up 12 cents to close at $25.80 on volume of about 121,000 shares.

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.19% at the market close, reversing a 0.08% drop in early trading Friday.

The iShares US Preferred Stock ETF was up 15 cents to $37.76.

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