JPMorgan preferreds better; Digital Realty Trust improves; Edison International falls

By James McCandless

San Antonio, Jan. 10 – Despite a rough start in the preferred space on Thursday, the session ended with broad gains across the secondary market.

Leading trading volume, JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferreds closed the day better.

The preferreds (NYSE: JPMPrD) were up 1 cent to close at $25.06 on volume of about 682,000 shares.

Elsewhere in finance, Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferred stock was also rising.

The preferreds (NYSE: GSPrD) picked up 5 cents to close at $18.50 with about 251,000 shares trading.

Real estate investment trust Digital Realty Trust, Inc.’s 7.375% series H cumulative redeemable preferred stock improved.

The preferreds (NYSE: DLRPrH) gained 4 cents to close at $25.35 on volume of about 644,000 shares trading.

Utilities name Southern California Edison Co., a subsidiary of Edison International, saw its 5% cumulative trust preferreds decline.

The preferreds (NYSE: SCEPrL) lost 22 cents to close at $18.06 with about 424,000 shares trading.

In the telecom space, AT&T, Inc.’s 5.35% global notes due 2066 ended trading positive.

The $25-par notes (NYSE: TBB) popped up 27 cents to close at $24.11 on volume of about 224,000 notes.

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.07% to end the day’s trading after opening lower by 0.34%.

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