Financial Sector Wrap

Published August 23, 2012

| FOXBusiness

During trading today, both the Financial sector (XLF) and the S&P500 showed little movement.

The ETF, as a as a proxy for sector performance, was down today, but still tracked closer to the overall market than over the past week. Going into trading today, XLF was down 0.2% over the last seven trading days while the S&P 500 was down 0.9%.

Homeowners Choice (HCII) was one of the sector's big losers, as its price dropped 7.6% (-$1.57) to close at $19.10. 688,610 shares of the stock moved. The stock traded between $18.62 and $20.80.

U.S. Global Investors (GROW) was a significant gainer in the sector, rising 6.2%. The stock closed at $5.49 with 67,007 shares moving. The stock traded in a range of $5.09 to $5.53. The stock has been on the rise in the last two months, up $1.18 (27.4%) from a price of $4.31 on June 26, 2012.

Source Capital (SOR) fell 1.9% to close at $50.30, crossing its 50-day moving average of $50.35. Meanwhile, KB Financial Group (KB) climbed 1.4% to close at $33.64, moving past its 200-day moving average of $33.62. Western Asset Invest. Grade Defined Opp (IGI) rose 1.9% to close at $23.05, cross its 50-day moving average of $22.98 and 200-day moving average of $22.47.

Kayne Anderson MLP Investment (KYN) rose 1.2% to close at $30.01, approaching its 50-day moving average of $30.33. It has also moved closer to its 200-day moving average of $30.24. Markel Corporation (DLLR) fell 1.1% to close at $435.50, moving closer to its 50-day moving average of $432.19. Also, the stock moved closer to its 200-day moving average of $18.02.

URL

http://www.foxbusiness.com/markets/2012/08/23/financial-sector-wrap/