Financial Sector Update for 11/22/2017: MVC,UEPS,PUB

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Top Financial Stocks

JPM -0.15%

BAC -0.17%

WFC -0.78%

C +0.21%

USB +0.15%

Financial stocks were slightly lower in late trade, with the NYSE Financial Sector Index slipping less than 0.1% while financial companies in the S&P 500 Index were experiencing a more than 0.3% drop.

In company news, MVC Capital ( MVC ) was little changed Wednesday afternoon, giving a moderate advance earlier today that followed the investment management company disclosing plans for modified dutch auction tender offer for up to $25 million of its common stock priced between $10.40 to $11 per share.

The tender offer is slated to run through Dec. 21, unless extended. The company is expecting to repurchase between 10.8% and 11.4% of its outstanding common stock.

In a related deal,

In other sector news,

(+) UEPS, MasterPayment subsidiary partners with Bitstamp digital currency exchange to facilitate credit card processing and purchases using cryptocurrencies. Financial terms were not disclosed.

(-) PUB, Chief financial officer Wolfgang Muelleck sells 6,231 shares of the bank company's stock at $30.074 apiece and generating nearly $187,400 in gross proceeds. Following the Nov. 20 stock sale, he owns 72,260 shares.

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 , ETFs
Referenced Symbols: MVC , UEPS , PUB

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