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With downward pressure on interest rates building over the last several weeks, preferred stock issuers took the opportunity to introduce ten new securities during June. As the month came to a close, the average market price for all U.S.-traded preferred stocks was $25.27, up $0.08 per share over the last month but right where they were twelve months ago.
June’s new preferred stocks
June’s ten new preferred stocks are offering an average annual dividend (coupon) of 6.5 percent, an average current yield (which does not consider reinvested dividends or capital gain/loss) of 6.3 percent and