Athene preferreds under par; Southern California Edison active, flat; Signature Bank up

By James McCandless

San Antonio, Dec. 16 – In the middle of the week, the preferred space continued the upward trend built earlier in the week.

Leading the secondary market, Athene Holding Ltd.’s new $550 million 4.875% series D fixed-rate perpetual non-cumulative preference shares finished under par.

The preferreds, trading under the temporary symbol “ATHDF,” closed at $24.88 on volume of about 1.2 million shares.

Meanwhile, utilities provider Southern California Edison Co.’s 5% cumulative trust preferred securities were active but went unchanged to close at $24.17 with about 1 million shares trading.

In the finance space, Signature Bank’s recent 5% series A non-cumulative perpetual preferreds hopped up 16 cents to close at $25.05 on volume of about 866,000 shares.

Healthcare tech company Ontrak, Inc.’s 9.5% series A cumulative perpetual preferred stock took a steep dive after more shares were issued.

Elsewhere, in oil and gas, DCP Midstream, LP’s 7.95% series C and 7.875% series B fixed-to-floating rate cumulative redeemable perpetual preferred units both climbed.

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