During trading today, the Financial sector (XLF) showed little change while the S&P 500 fell 0.7%.
Although it went in the opposite direction of the market today, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, XLF was up 0.2% over the last thirty trading days while the S&P 500 was up 1.2%.
Tower Group (TWGP) was one of the sector's big losers, as its price dropped 14.1% (-$3.07) to close at $18.64. 1.2 million shares of the stock moved. The stock traded between $18.17 and $19.68. The stock has lost momentum over the last three months, losing $2.70 (-12.7%) from $21.34 on May 3, 2012.
Mackinac Financial Corporation (MFNC) was a significant gainer in the sector, rising 11.4%. The stock closed at $6.47 with 1,961 shares moving. The stock traded in a range of $6 to $6.50.
Hancock Holding Company (HBHC) rose 2.1% to close at $30.48, cross its 50-day moving average of $29.98 and 200-day moving average of $31.91. MV Oil (MVO) declined 3.6% to close at $35.15, moving below its 50-day moving average of $35.37 and 200-day moving average of $38.20.
Woori Finance Holdings (WF) rose 2.7% to close at $29.36, approaching its 50-day moving average of $29.79. It has also moved closer to its 200-day moving average of $30.44. Infinity Property and Casualty (NAVG) fell 2.1% to close at $57.81, moving closer to its 50-day moving average of $57.55. Also, the stock moved closer to its 200-day moving average of $48.31.
Heartland Financial USA (HTLF) hit a new 52-week high today, reaching $26.58 to top the previous high of $25.48.