Harris Private Bank
Investors are still high on bank-loan fundsPosted by RJ and Makay on Feb 24, 2011 |
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Bank-loan funds are still hot with investors, despite a two-year rally that has pushed fund prices dramatically higher. According to Morningstar, bank-loan funds saw net inflows of $5.62 billion in January, a monthly record.
LPL launches, execs cash inPosted by RJ and Makay on Nov 19, 2010 |
On the night of 
November 17, LPL announced its initial public offering of 15,657,482 shares of its common stock, priced at $30, and on the morning of November 18th it became officially listed on the NASDAQ under the symbol LPLA. Trading officially began at 9:30 EST that morning, with LPL’s chairman and chief executive, Mark Casady, doing the honor of ringing the opening bell. Shares hit a high at midday, reaching a price of $33.84, and closed at $32.15.
The IPO comes after years of anticipation. In total, it netted $470 million for stockholders who sold at the opening price. In June, when the Broker-Dealer registered for the offering, it estimated the deal value might be as high as $600 million. None of the proceeds from the sale will go to the company.
David Weinbaum (American Businessman and Writer.)
