Financial Stocks Losing More Ground

Financial stocks were falling during Friday trading, with the NYSE Financial Sector Index sinking about 0.3% while financial companies in the S&P 500 Index were posting a 0.7% decrease.

In company news, shares of New York Mortgage Trust (NYMT) rose Friday after the real estate investment trust last night said it will distribute a $0.24 per share quarterly dividend for the three months ending Dec. 31, unchanged from the prior quarter.

The next dividend will be payable Jan. 26, 2017, to shareholders of record on Dec. 27. NYMT shares were up about 3.7% at $6.75 apiece, staying within relatively close range of its session high today of $5.80 a share.

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