SoCal Edison preferreds move up; Voya Financial heads lower; National Retail improves

By James McCandless

San Antonio, June 14 – The preferred market finished the Friday session on a positive trend.

At the top of secondary activity, Southern California Edison, a subsidiary of Edison International, saw its 5% cumulative trust preferred securities move upward.

Employee benefits company Voya Financial, Inc.’s new 5.35% series B fixed-rate reset non-cumulative preferreds ended lower.

Real estate investment trust National Retail Properties, Inc.’s 5.2% series F cumulative redeemable preferred stock improved.

Sector peer Digital Realty Trust, Inc.’s 5.875% series G cumulative redeemable preferreds ended on the positive side.

Oil and gas name Energy Transfer Operating, LP’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units also gained.

SoCal Edison rises

Leading secondary trading volume for a second straight day, Southern California Edison’s 5% cumulative trust preferred securities moved upward.

The preferreds (NYSE: SCEPrL) gained 9 cents to close at $20.61 on volume of about 438,000 shares.

On Thursday, the preferreds picked up 2 cents.

Voya down

Meanwhile, Voya’s new 5.35% series B fixed-rate reset non-cumulative preferreds edged lower.

The preferreds, trading under the temporary symbol “VOYXL,” were off 1 cent to close at $25.29 with about 364,000 shares trading.

On Thursday, the preferreds shot up 23 cents.

National Retail higher

Real estate investment trust National Retail’s 5.2% series F cumulative redeemable preferred stock was seen improving.

The preferreds (NYSE: NNNPrF) jumped up 20 cents to close at $25.20 on volume of about 321,000 shares.

Sector peer Digital Realty’s 5.875% series G cumulative redeemable preferreds also ended the day on a positive note.

The preferreds (NYSE: DLRPrG) added 1 cent to close at $25.19 with about 253,000 shares trading.

Energy Transfer gains

Elsewhere, in oil and gas, Energy Transfer’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units were gaining.

The preferreds (NYSE: ETPPrE) rose 13 cents to close at $24.68 on volume of about 236,000 shares.

Indexes improve

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.21% by the close, reversing a 0.06% loss from early Friday trading.

The iShares US Preferred Stock ETF was up 5 cents to $36.82.

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