Financial stocks were gaining in early Tuesday trading with the Select Financial Sector SPDR (XLF) climbing by 0.16%. The Direxion Daily Financial Bull 3X shares (FAS) were 0.53% higher and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were down 0.48%.
BRP Group (BRP) was declining by more than 6% after saying it has agreed to acquire substantially all of the assets of Jacobson, Goldfarb & Scott, a specialty insurance broker and managing general agent operating from Holmdel, New Jersey.
Metropolitan Bank Holding (MCB) was off nearly 6% after it announced a public offering of $150 million of common stock.
Invesco (IVZ) was over 1% higher after it reported preliminary assets under management of $1.563 trillion for the month of August, up 2.2% from $1.528 trillion in July.