In Thursday trading, shares of JPMorgan Chase & Co’s 4.55% Dep Shares Non-Cumulative Preferred Stock Series JJ (Symbol: JPM.PRK) yielded over 6%, with prices falling to as low as $18.90. This is a notable contrast to the average yield of 6.56% within the Financial preferred stock category. Currently, JPM.PRK is trading at a 24.00% discount to its liquidation preference, compared to the average discount of 11.59% in the same category.
On that day, JPM.PRK was down approximately 0.5%, while common shares (Symbol: JPM) decreased about 0.4%. Investors should note that the preferred shares are non-cumulative, meaning that missed dividend payments do not have to be paid back before resuming common dividends.
