Top Financial Stocks
Financial stocks were little changed this afternoon, with the NYSE Financial Sector Index climbing 0.1% while the S&P Financial 100 Index was declining about 0.1%.
In company news, TICC Capital Corp ( TICC ) shares declined Monday after NexPoint Advisors late Friday filed a suit in federal court against the debt and equity investor, alleging TICC Capital management violated state and federal securities law in their efforts to thwart NexPoint from gaining control of the company.
Separately, TPG Specialty Lending ( TSLX ) today sent a letter to TICC Capital shareholders, asserting its quarterly dividend was artificially high and that TICC executives will likely need to reduce future distributions. TPG also urged shareholder to vote against TICC Capital management proposals at the company's annual meeting on Oct.27 and instead vote for its alternative slate.
TICC shares were down almost 1% at $6.85 apiece, earlier slipping to a session low of $6.81 a share.
In other sector news,
(+) PMTS, (+7.2%) Prices scaled-back initial public offering of 15 million shares at $10 per share, in-line with revised terms. The $150 million IPO was around 50% below the company's initial plans.
(-) GCAP, (-1.8%) Average daily Over-the-Counter trading volume falls 13% during September compared with prior month to $14.7 billion. Overall OTC trading volume slips 8.9% from August levels to $332.8 billion.
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