Capital One preferreds decline; AGNC Investment positive; Athene sees boost

By James McCandless

San Antonio, Oct. 7 – The preferred space started a new week with a negative shift, though top traders saw mixed activity.

Leading in the secondary, Capital One Financial Corp.’s 5% series I fixed-rate non-cumulative perpetual preferreds were down 9 cents to close at $24.84 on volume of about 674,000 shares.

Elsewhere in finance, Wells Fargo & Co.’s 5.85% series Q fixed-to-floating rate non-cumulative perpetual class A preferred stock shaved off 10 cents to close at $26.54 with about 305,000 shares.

Sector peer Bank of America Corp.’s 5% series LL non-cumulative preferred stock was active but ultimately unchanged, closing at $26.54 with about 305,000 shares.

REIT AGNC Investment Corp.’s 6.5% series E fixed-to-floating rate cumulative redeemable preferreds closed on the positive side, adding 1 cent to close at $25.12 with about 363,000 shares trading.

Retirement services provider Athene Holding Ltd.’s 5.625% series B fixed-rate perpetual non-cumulative preference shares saw a boost. The preferreds rose 12 cents to close at $25.95 on volume of about 320,000 shares.

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