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Financial Stocks Adding to Small Gains Late; Dynex Promotes Investment Chief to CEO

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Financial stocks are slightly higher this afternoon with the NYSE Financial Sector Index hanging on to a 0.3% gain while the S&P Financial 100 Index also is adding around 0.3%.

In company news, Dynex Capital ( DX ) is at its best levels of the session, rising about 0.6% to $8.03 a share and the mortgage real estate investment trust this afternoon announcing Byron Boston has been promoted to president and chief executive officer, effective Jan. 1, 2014.

Boston will retain his current responsibilities as co-chief investment officer at DX in addition to his new role as CEO. He replaces Thomas Akin, who will become executive chairman of the company's board of directors.

In other sector news,

(+) SPG, The nation's largest mall-property owner unveils plans to spin off all of its strip malls and smaller enclosed malls into a separate publicly traded real-estate investment trust.

(-) TCPC, Prices upsized public offering of 4.5 mln shares of its common stock at $16.00 each, generating $72 mln in gross proceeds for the commercial lender to mid-sized firms.

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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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