Today I see there was massive volume–buying and selling–in preferred shares — the most that I have ever seen.
There were 132 issues we are showing with more than 300% of normal daily volume. Obvious there were a bunch of funds rebalancing–and the pricing is totally distorted both to the downside and upside.
You can see the high volume on the Preferred Stocks with High Volume page here. These numbers will ‘clear’ tomorrow morning at 8:30 am.