Shares of AGNC Preferreds Face Lukewarm Reception Amid Floating Rate Transition AGNC preferred shares, trading near $25, are set to see a yield increase to 9.26% as the floating rate kicks in. However, with a yield-to-call of just 4.3%, investors are showing limited enthusiasm. Comparatively, AGNCM shares offer a lower spread and similar yields, making AGNCP only marginally more attractive.1