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Rating:Market Posts Smaller than Expected Loss, Fund Firms Benefit Not Rated 2.8 Email Routing List Email & Route  Print Print
Friday, August 10, 2007

Market Posts Smaller than Expected Loss, Fund Firms Benefit

Reported by Erin Kello

After a roller coaster ride of a day, the S&P 500 closed up four basis points while the Dow Jones Industrials slipped 0.23 percent or 31.14 points, after being down almost 3.25 percent this morning. The good news spilled over to fund firm shares with 12 of the 19 publicly traded companies track by the MFWire ending the day up.

Yesterday's biggest loser was today's biggest gainer. GAMCO's shares shot up 27.8 percent today, after being down 9 percent at close yesterday. The company also released its second quarter earnings report today.

Also gaining traction today were: SEI, up 9.9 percent, Integrity Funds, up 8.5 percent, and U.S. Global investors, up 5.6 percent.

Posting the biggest losses were T.Rowe, down 4.6 percent, and Janus, down 4.3 percent. 

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