(NYSE:BAC, C, WFC, XLF, FAS) - Financial Stocks In Action On BofA TARP Repayment News

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Financial Stocks and ETF's are gaining some buying interest after the news that Bank of America Corporation announced that it will repay U.S. taxpayers their entire $45 billion investment provided under the Troubled Asset Relief Program (TARP). The Company plans to repay the $45 billion in TARP funds using $26.2 billion in excess liquidity and $18.8 billion in proceeds from the sale of common equivalent securities.

Bank of America Corporation (NYSE:BAC) is trading 6.39% up on massive volume of 31 million shares.

Citigroup Inc. (NYSE:C) shares have moved up by 1.95% to $4.18.

Wells Fargo & Company (NYSE:WFC) is moving higher by 1.53% to $27.87.

Financial Select Sector SPDR (ETF) (NYSE:XLF), which seeks to provide investment results that correspond to the price and yield performance of the Financial Select Sector of the S&P 500 Index, is up 1.77% at $14.92.

Direxion Daily Finan. Bull 3X Shs(ETF) (NYSE:FAS), which seeks daily investment results of 300% of the price performance of the Russell 1000 Financial Services Index (the Financial Index), is trading higher up by 4.47% to $79.17.

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