Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Edison International > News item |
SoCal Edison preferreds decline; Ally Financial positive; Athene under water
By James McCandless
San Antonio, Dec. 19 – The preferred space ended the day on a slightly positive trend, though volume leaders varied.
At the top of the secondary, Southern California Edison Co., a subsidiary of Edison International, saw its 5.75% cumulative fixed-to-floating rate preferred securities decline.
Meanwhile, in finance, Ally Financial Corp.’s 8.125% series 2 fixed-to-floating rate trust preferred securities finished positive.
Sector peer SVB Financial Group’s 5.25% series A non-cumulative perpetual preferred stock ended the day weaker.
Retirement name Athene Holding Ltd.’s 6.35% series A fixed-to-floating rate non-cumulative preference shares were under water.
Elsewhere, in telecom, AT&T Inc.’s 5% series A perpetual preferreds spent the Thursday session rising.
SoCal Edison down
At the top of activity in the secondary market, Southern California Edison’s 5.75% cumulative fixed-to-floating rate preferred securities declined.
The preferreds (NYSE: SCEPrH) were down 8 cents to close at $24.15 on volume of about 932,000 shares trading.
On Wednesday, the preferreds shot up 11 cents.
Ally Financial better
Meanwhile, in the finance space, Ally Financial’s 8.125% series 2 fixed-to-floating rate trust preferred securities finished positive at the close.
The preferreds (NYSE: ALLYPrA) tacked on 1 cent to close at $26.02 with about 739,000 shares trading.
On Wednesday, the preferreds gained 1 cent.
Sector peer SVB Financial’s 5.25% series A non-cumulative perpetual preferred stock ended the day weaker.
The preferreds (Nasdaq: SIVBP) declined by 3 cents to close at $25.80 on volume of about 554,000 shares.
Athene lower
Retirement services provider Athene’s 6.35% series A fixed-to-floating rate non-cumulative preference shares spent the day under water.
The preferreds (NYSE: ATHPrA) dipped 8 cents to close at $28.42 with about 663,000 shares trading.
AT&T rises
Elsewhere, in the telecom sector, AT&T’s 5% series A perpetual preferreds spent the Thursday session rising.
The preferreds (NYSE: TPrA) gained 12 cents to close at $25.81 on volume of about 534,000 shares.
On Wednesday, the preferreds moved up 17 cents.
Indexes up
The Wells Fargo Hybrid & Preferred Securities Financial index finished up by 0.02%, reversing a 0.06% loss from early Thursday trading.
The iShares US Preferred Stock ETF was up 3 cents to $37.40.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.