This deserves to be stickied. Math is powerful. It's a shame more people on this board can't stick with the facts and calculate things as they are likely to become.
The daily volume doesn't indicate the liquidity, but the free float. The volume can be manipulated by block trades or computers. The free float of the commons is 100%. The free float of the Preferreds is minimal. They're mostly held by the Community Banks and the Hedge-Funds which trade like one entity because they are a gang. You will learn a lot about the Preferreds once they are released and the dividend is kept suspended.
This post really should be stickied. And to think, you only took the most actively traded Preferreds for Fannie and Freddie. When you factor in all the other Preferred classes, it's roughly 3-4x the dollar volume of the Commons.
It goes to show where the money is moving to ==> Preferreds.