Sector Update: Financial Stocks Fall Premarket Friday

MT Newswires Live03-21

Financial stocks fell premarket Friday with the Financial Select Sector SPDR Fund (XLF) 0.8% lower recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 2.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.2% higher.

F&G Annuities & Life (FG) shares declined by over 4% after the company priced a public offering of 8 million common shares at $35 each.

Oxford Lane Capital (OXLC) shares were up more than 1% after the company said its board approved a share repurchase program of up to $150 million.

Patriot National Bancorp (PNBK) shares surged by over 36% after the company said it agreed to raise over $50 million in a private placement of common shares and non-voting preferred stock. Patriot National Bancorp also said Chief Executive David Lowery is leaving the company.

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