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iShares Rolls Out Floating Rate Note ETF
Friday, June 17, 2011 - 1:05pm | 266BlackRock's (NYSE: BLK) iShares unit, the world's largest ETF manager, introduced its first floating rate note fund today, the iShares Floating Rate Note Fund (NYSE: FLOT). Floating rate bonds pay variable rates rather than featuring fixed coupons as most fixed income investments do. FLOT is...
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Prospect Capital Provides $26.5 Million in Senior Secured Financing
Friday, June 17, 2011 - 7:01am | 150Prospect Capital Corporation (NASDAQ: PSEC) announced today that Prospect has made a senior secured debt investment of $26.5 million to support the acquisition of ST Products by Quilvest Private Equity and Malakand Capital. Headquartered in Duncansville, Pennsylvania, STP is the leading North...
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WP Carey Raises Qtr Dividend To $0.55 From $0.512
Thursday, June 16, 2011 - 4:17pm | 197Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that its Board of Directors has increased the Company's quarterly cash distribution to $0.55 per share for the quarter ending June 30, 2011. Payable on July 15, 2011 to shareholders of record as of June 30, 2011, this marks the...
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Ticker Change: PowerShares Announces Name, Ticker Changes For Seven ETFs
Wednesday, June 15, 2011 - 1:09pm | 315PowerShares, the ETF unit of Invesco (NYSE: IVZ), announced today that seven of its ETFs will undergo name and ticker changes at the start of trading on Thursday June 16. The PowerShares Dynamic Large Cap Portfolio (NYSE: PJF) will change its name to the PowerShares Fundamental Pure Large Core...
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Ameriprise Financial Announces Additional $2 Billion Share Repurchase Program
Wednesday, June 15, 2011 - 9:09am | 148Ameriprise Financial, Inc. (NYSE: AMP) today announced that its board of directors has authorized an additional expenditure of up to $2 billion for the repurchase of shares of its common stock through June 28, 2013. Through the first quarter of 2011, the company had repurchased $969 million of the...
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Options Brief: BlackRock, Inc.
Monday, June 13, 2011 - 1:48pm | 84Shares of BlackRock, Inc. (NYSE: BLK) are higher on the session by 0.86%, trading at $187.41. Overall call volume is now running at 3.48x the daily average, with 61% of all calls traded being purchases on the offer. 1,065 contracts have traded on the session so far. BlackRock, Inc. is an...
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Monday's Put/Call Ratio Leaders
Monday, June 13, 2011 - 1:16pm | 78Here are today's Put/Call Ratio leaders… 1. Federated Investors (NYSE: FII) 3,829 puts, 60 calls 2. Yum Brands (NYSE: YUM) 14,110 puts, 230 calls 3. Novagold Resources (NYSE: NG) 75,976 puts, 1,530 calls 4. Ann Inc. (NYSE: ANN) 4,008 puts, 84 calls 5. Allscripts Healthcare Solutions (NASDAQ: MDRX...
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S&P Financial Sector Update 6/13/11
Monday, June 13, 2011 - 12:52pm | 611The Financial Sector is one of the strongest areas of the market in today's trading session, currently 0.46% higher on the day. The best performing stocks in the S&P 500 Financial Sector currently are: 1) Citigroup (NYSE: C): Shares of Citigroup are currently trading up 1.9% from Friday's...
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Global X SuperDividend ETF Sees Robust First-Day Volume
Monday, June 13, 2011 - 12:30pm | 251Global X, the New York-based ETF issuer with 35 ETFs on the market and $1.7 billion in assets under management, said its newest ETF, the Global X SuperDividend ETF (NYSE: SDIV) got off to a stellar start from a liquidity standpoint, trading nearly 321,000 shares, or almost $8 million in dollar...
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The Reformed Broker: Stockpicking is Hard
Monday, June 13, 2011 - 9:58am | 1210Josh Brown, over at The Reformed Broker blog, has an excellent post out this morning on the difficulties of "the game" in reference to struggles of some high profile mutual fund managers. The original Bloomberg piece is here, and focuses on 3 managers - Bill Miller, Bruce Berkowitz, and Ken...
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KBW Comments on Invesco Management Meetings
Monday, June 13, 2011 - 8:50am | 70KBW spent some time this past week visiting investors with Invesco Ltd. (NYSE: IVZ) CFO Loren Starr, Treasurer Jordan Krugman, and Andrew Schlossberg, Global Head of Distribution and ETFs. “The meetings covered a wide range of topics and some key areas of focus included the ETF business, capital...
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Penson Worldwide Moving Higher
Friday, June 10, 2011 - 3:42pm | 99Penson Worldwide, Inc. (NASDAQ: PNSN) shares are moving higher, despite the weakness in the broader markets. At last check, shares were up 10 cents to $3.97, a gain of 2.6% on 500,000 shares. The company's CEO was featured in a piece in the Wall Street Journal yesterday regarding potentially...
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S&P Financial Sector Update 6/10/11
Friday, June 10, 2011 - 1:06pm | 508The Financial Sector has been the weakest performing area of the market in today's trading session, currently 1.5% lower on the day. The worst performing stocks in the S&P Financial Sector currently are: 1) Genworth Financial (NYSE: GNW): Shares of Genworth are currently trading down 3.9%...
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Sterne Agee Maintains Neutral on Invesco
Friday, June 10, 2011 - 8:33am | 82Sterne Agee is out with its report today on Invesco (NYSE: IVZ), maintaining Neutral. In a note to clients, Sterne Agee writes, "While there is meaningful upside to our $27 price target (based on 16x '11 cash operating earnings plus net cash & investments), on a relative basis we view the...
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Citi Maintains Rating, PT On IVZ
Friday, June 10, 2011 - 8:24am | 147Citi is maintaining its Hold rating and its $24.50 price target on Invesco (NYSE: IVZ) in light of the company's May AUM. In the report, Citi writes, “$661.4B in AUM at 5/31, down 1.1% MTM from $668.6B at 4/30 and 50 bps (~$3B) ahead of our $658B forecast. Relative to us, beat reflects better than...