ETF Trends
ETF Trends

Financial exchange traded funds were higher Tuesday as investors awaited a stock offering from bailed-out insurance giant American International Group (NYSE: AIG), which will be priced after the closing bell.

The U.S. Treasury is expected to sell 15% of its stake in AIG, Reuters reported. The Treasury owns a 92% stake in AIG after the company required a federal bailout in the credit meltdown.

Earlier this month, AIG and the Treasury Department said they planned to offer 300 million AIG shares for a total of nearly $9 billion. [Financial ETFs Watch AIG Offering, 50-Day Average]

Also this month, AIG said its first-quarter earnings fell 85% from the year-ago period.

Financial Select Sector SPDR Fund (NYSEArca: XLF) rose fractionally on Tuesday. The sector ETF fell to its 200-day moving average on Monday. [Financial ETF Hits 200-Day Average as Citi, Banks Weigh]

Financial Select Sector SPDR Fund


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