Voya preferreds end lower; Annaly Capital positive; Goldman Sachs sees slight gain

By James McCandless

San Antonio, July 2 – The preferred market sustained a positive run in the Tuesday session.

Leading trading volume, Voya Financial, Inc.’s 5.35% series B fixed-rate reset non-cumulative preferred stock ended slightly lower.

REIT Annaly Capital Management, Inc.’s 6.75% series I fixed-to-floating rate cumulative redeemable perpetual preferred stock was higher.

Meanwhile, in finance, Goldman Sachs Group, Inc.’s 5.5% series J fixed-to-floating rate perpetual non-cumulative preferreds saw a slight gain.

Sector peer U.S. Bancorp’s series B floating-rate non-cumulative perpetual preferred stock improved.

Oil and gas name Energy Transfer Operating, LP’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units were active but finished flat.

Voya lower

Leading trading, employee benefits company Voya’s 5.35% series B fixed-rate reset non-cumulative preferred stock ended the day slightly lower.

The preferreds (NYSE: VOYAPrB) were down 2 cents to close at $25.26 on volume of about 967,000 shares.

Annaly positive

Annaly Capital’s 6.75% series I fixed-to-floating rate cumulative redeemable perpetual preferred stock was positive.

The preferreds (NYSE: NLYPrI) added 7 cents to close at $25.10 with about 656,000 shares trading.

On Monday, the preferreds picked up 12 cents.

Goldman gains

Meanwhile, Goldman Sachs’ 5.5% series J fixed-to-floating rate perpetual non-cumulative preferreds saw a slight gain by the end of the session.

The preferreds (NYSE: GSPrJ) rose 1 cent to close at $26.04 on volume of about 509,000 shares.

Sector peer U.S. Bancorp’s series B floating-rate non-cumulative perpetual preferred stock was also improving.

The preferreds (NYSE: USBPrH) tacked on 15 cents to close at $20.07 with about 287,000 shares trading.

Energy Transfer flat

In oil and gas, Energy Transfer’s 7.6% series E fixed-to-floating rate cumulative redeemable perpetual preferred units were relatively active but ended the day flat.

The preferreds (NYSE: ETPPrE) finished the session level at $25.85 on volume of about 502,000 shares.

Indexes up

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.57% at the end of trading, shooting past the 0.09% rise in early Tuesday trading.

The iShares US Preferred Stock ETF was up 18 cents to $36.89.

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