Sector Update: Financial Stocks Advance Pre-Bell Thursday

Last Updated: Thursday, August 18, 2022 9:23 AM | MT Newswires

Financial stocks were advancing pre-bell Thursday with the Select Financial Sector SPDR (XLF) recently climbing by 0.1%. The Direxion Daily Financial Bull 3X shares (FAS) were up 0.6%, and bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were 0.2% lower.

Midland States Bancorp (MSBI) was down nearly 4% after it priced an underwritten public offering of 4.6 million depositary shares, representing preferred equity interest, for total expected gross proceeds of $115 million.

Artisan Partners Holdings LP, of which Artisan Partners Asset Management (APAM) is the sole general partner, extended its $100 million revolving credit facility for an additional five-year period. Artisan Partners Asset Management was recently up more than 1%.

Prudential Financial (PRU) shares were up 0.4% after the company said it closed the sale of $1.2 billion of 6% fixed-to-fixed reset rate junior subordinated notes due 2052.

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