JPMorgan’s preferreds lead market higher; Digital Realty Trust up; Hartford improves

By James McCandless

San Antonio, Nov. 21 – The preferred space saw a recovery from the previous two days in the pre-Thanksgiving session.

Volume leader JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock improved in secondary trading.

The preferreds (NYSE: JPMPrD) were up 25 cents to close at $24.69 on volume of about 284,000 shares.

Elsewhere in finance, Bank of America Corp.’s 5.875% series HH non-cumulative preferreds and its 6% series GG non-cumulative preferreds traded up.

The series HH preferreds (NYSE: BACPrK) were better by 20 cents to close at $24.49 with about 276,000 shares trading.

The series GG preferreds (NYSE: BACPrB) were also up 20 cents to close at $25.20 with about 189,000 shares trading.

Ally Financial Inc.’s 8.125% series 2 fixed-to-floating rate trust preferreds gained.

The preferreds (NYSE: ALLYPrA) added 9 cents to close at $25.72 on volume of about 211,000 shares.

Meanwhile, real estate investment trust Digital Realty Trust, Inc.’s 7.375% series H cumulative redeemable preferred stock followed the positive trend.

The preferreds (NYSE: DLRPrH) traded 7 cents higher to close at $25.50 with about 233,000 shares trading.

And insurance provider Hartford Financial Services Group, Inc.’s 6% series G non-cumulative preferreds rose.

The preferreds (NYSE: HIGPrG) jumped up 30 cents to close at $25.17 on volume of about 131,000 shares.

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