Financial Sector Update for 06/20/2019: PT,LAND,NETE,TWO

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Top Financial Stocks

JPM +0.09%

BAC -0.44%

WFC +0.36%

C +0.60%

USB -0.10%

Financial stocks turned moderately higher before Thursday's closing bell. At last look, the NYSE Financial Index was 0.6% higher while shares of financial companies in the S&P 500 were climbing just more than 0.3%. The Philadelphia Housing Index was rising nearly 1.3%.

Among financial stocks moving on news:

(-) Pintec Technology Holdings ( PT ) dropped more than 32% to an all-time low of $2.75 a share after the financial technologies company late Wednesday said it was expanding its partnership with the Chinese online insurance company 1an.com to provide a customized overseas accident insurance package for Chinese tourists. The new policies will cover kidnapping, hijacking and other extreme emergencies in addition to more traditional accident and medical protections.

In other sector news:

(+) Net Element ( NETE ) rose nearly 5% after the financial software firm Thursday announced the July 1 launch of its Aptito cryptocurrency payment acceptance platform for merchants.

(+) Two Harbors Investment Corp ( TWO ) was narrowly higher in recent trade, reversing a small mid-morning decline. The real estate investment trust late Wednesday set a Q2 dividend of $0.40 per common share, down 14.9% from its $0.47 per share distribution from the previous quarter.

(-) Gladstone Land Corp ( LAND ) was sinking almost 6% after the company priced 2 million shares of stock at $11.73 each, a 4.8% discount from their Wednesday closing price.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Banking and loans
Referenced Symbols: PT , NETE , TWO , LAND

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