GasLog’s new preferreds end below par; Bank of America slips; Hartford moves lower

By James McCandless

San Antonio, Nov. 8 – A new issue saw most of the attention in the preferred space on Thursday.

GasLog Partners LP’s $100 million 8.5% series C cumulative redeemable perpetual fixed-to-floating rate preference units ended below par in secondary trading.

The preferreds, trading under the temporary symbol “GLOUF,” ended the day at $24.82 on volume of about 606,000 shares.

The deal priced on Wednesday.

In the financial space, Bank of America Corp.’s 6.625% series W non-cumulative preferreds and its 5.875% series HH non-cumulative preferreds declined.

The series W preferreds (NYSE: BACPrW) were down 2 cents to close at $25.76 with about 371,000 shares trading.

The series HH preferreds (NYSE: BACPrK) were off 2 cents to close at $24.78 with about 294,000 shares trading.

JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock saw a late boost.

The preferreds (NYSE: JPMPrD) were up 9 cents to close at $24.94.

Elsewhere, insurance name Hartford Financial Services Group, Inc.’s 6% series G non-cumulative perpetual preferred stock edged lower.

The preferreds, trading under the temporary symbol “HIGJL,” were down 2 cents to close at $25.13 with about 282,000 shares trading.

Real estate investment trust UMH Properties, Inc.’s 6.75% series C cumulative redeemable preferred stock (NYSE: UMHPrC) jumped 33 cents to close at $23.44.

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