With the DJIA down all day long between 250 and 400 points income issues are trading normally with very little movement–except the usuals.
The new lows list for preferred stocks includes some of the usual suspects such as some of the AmTrust Financial preferreds as well as the Seaspan 6.375% baby bonds (SSWN) which mature on 4/30/2019 so the bonds are sticking around $25. 1 Chimera issue (CIM-D) and 1 AGNC Mortgage issue (AGNCB) are showing up on the new low list, but are hanging around $25.
Preferreds with large share price losses include the Dynagas LNG 9% preferred (DNLG-A) which is off $2.38/share on 300% or normal volume. The Global Ship Lease 8.75% perpetual (GSL-B) is off $1.20/share. Other shippers–Diana, Teekay Offshore and Tsakos issues are all weak. All shipper have become the most heavily hated group, along with previous contenders in the insurance sector (AmTrust and Maiden Holdings).