Athene preferred shares top par; Deutsche Bank trades lower; Gabelli Dividend improves

By James McCandless

San Antonio, June 6 – The preferred space closed mixed as it entered the tail end of the week.

Leading the day’s activity, Athene Holding Ltd.’s new $750 million 6.35% series A fixed-to-floating rate perpetual non-cumulative preference shares closed above par.

The preferreds, trading under the temporary symbol “ATHDF,” closed at $25.50 on volume of about 8.3 million shares.

The deal priced on Wednesday.

Meanwhile, in finance, Deutsche Bank Contingent Capital Trust V’s 8.05% trust preferred securities and Deutsche Bank Contingent Capital Trust II’s 6.55% trust preferred securities were both negative.

The 8.05% preferreds (NYSE: DKT) were down 8 cents to close at $25.30 with about 305,000 shares trading.

The 6.55% preferreds (NYSE: DXB) were off 9 cents to close at $24.37 with about 150,000 shares trading.

Sector peer JPMorgan Chase & Co.’s 6% series EE non-cumulative preferreds were also worse off by the end of the session.

The preferreds (NYSE: JPMPrC) dropped 3 cents to close at $26.73 on volume of about 153,000 shares.

Mutual fund Gabelli Dividend & Income Trust’s new $50 million 5.375% series H cumulative preferred stock continued to rise.

The preferreds, trading under the temporary symbol “GDVVP,” gained 6 cents to close at $25.18 with about 223,000 shares trading.

© 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.