Morgan Stanley's Preferred Stock, Series E Shares Cross 6% Yield Mark

In trading on Thursday, shares of Morgan Stanley's Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series E (NYSE: MS.PRE) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $29.68 on the day. This compares to an average yield of 5.49% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MS.PRE was trading at a 19.04% premium to its liquidation preference amount, vers...