Citigroup: Financial Winner

Citi shares busted out of the gate on Tuesday, following news that U.S. Treasury Department was selling the last of its stake.
By Lauren LaCapra ,

NEW YORK (

TheStreet

) --

Citigroup

(C) - Get Report

stock burst out of the gate on Tuesday, driving the financial sector's gains and dominating volume on the New York Stock Exchange.

In recent trading, Citi was up 4 % at $4.63, having hit an intraday high of $4.65 earlier in the session. The move was driven by the U.S. Treasury Department's

announcement late Monday evening that it would soon exit its Citi stake. The Treasury priced an offering of its final 2.2 billion shares at an average price of $4.35 an expects the deal to close by Friday.

>>>Read More: Citi Stock Eyes $5 (And More)

>>>Read More: Citi Will Need to Deliver

Elsewhere in the sector,

Bank of America

(BAC) - Get Report

shares were up marginally, following news that

the company settled fraud allegations related to municipal bond investments for $137 million. BofA was recently up a penny at $11.65.

Shares of

Visa

(V) - Get Report

and

MasterCard

(MA) - Get Report

were down after the companies

said they had cut ties to the controversial company Wikileaks, whose founder surrendered himself to authorities in London on Tuesday morning. Visa was down 1.4% at $77.20 while MasterCard was 0.8% lower at $251.21.

Other major financial movers to the upside were student-loan provider

SLM Corp.

(SLM) - Get Report

, which was 2.4% higher at $12.16;

Morgan Stanley

(MS) - Get Report

, which was 1.6% higher at $25.94;

Radian Group

(RDN) - Get Report

, which was up 1.5% at $7.52 ; and

PNC Financial Services

(PNC) - Get Report

, which was up 1.3% at $58.06.

Among the stocks tracking lower were

KeyCorp

(KEY) - Get Report

, recently down 2.6% at $7.97 and

MGIC Investment Corp.

(MTG) - Get Report

, down 2.1% at $9.14.

-- Written by Lauren Tara LaCapra in New York

.

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Lauren Tara LaCapra

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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