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Duke Energy preferreds improve; JPMorgan declines; Brookfield Property units rise
By James McCandless
San Antonio, April 10 – Wednesday trading in the preferred market saw a broad positive swing, though top-trading issues were mixed.
Leading trading volume, Duke Energy Corp.’s 5.75% series A cumulative redeemable perpetual preferred stock improved.
The preferreds (NYSE: DUKPrA) were up 6 cents to close at $25.71 on volume of about 480,000 shares.
Meanwhile, JPMorgan Chase & Co.’s 6% series EE and 5.75% series DD non-cumulative preferreds were both negative.
The series EE preferreds (NYSE: JPMPrC) lost 6 cents to close at $26.54 with about 329,000 shares.
The series DD preferreds (NYSE: JPMPrD) fell 5 cents to close at $25.97 with about 252,000 shares trading.
Sector peer Bank of America Corp.’s 6.5% series Y non-cumulative preferred stock was also falling.
The preferreds (NYSE: BACPrY) declined by 6 cents to close at $25.59 on volume of about 214,000 shares.
Elsewhere, real estate developer Brookfield Property Partners LP’s 6.5% series 1 class A cumulative redeemable perpetual preferred units were on the rise.
The preferreds (Nasdaq: BPYPP) added 19 cents to close at $25.10 with about 236,000 shares trading.
In telecom, Qwest Corp.’s 6.5% notes due 2056 saw a boost late in the session.
The notes (NYSE: CTBB) added 24 cents to close at $22.56.
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