Financial stocks were narrowly higher with the NYSE Financial
Sector Index climbing about 0.1% and the S&P Financial 100
Index inching less than 0.1% higher.
In company news, BlackRock (
) ended with a small gain Tuesday with the asset manager today
saying it launched the BlackRock Multi-Manager Alternative
Strategies Fund to offer individual investors the opportunity to
access multiple alternative investment strategies in a single
open-end mutual fund.
BLK shares were up about 0.8% in late trade at $310.88 each,
easing from a session high at $311.38 a share.
In other sector news,
(+) FRF, Climbs to best share price in over four years after
accepting a $218 million buyout offer from Tiptree Financial (
), which will pay $10 in cash for each FRF share. The deal also
includes a 30-day go-shop period for FRF to explore other
(-) TCAP, Prices underwritten public offering of upsized 4.3 mln
shares at $26.85 apiece, a 2.85% discount to Monday's closing price
for the stock. The deal added an extra 300,000 shares shortly
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