NEW YORK (
) -- Financial stocks were mixed Monday on a light news day. The
Financial Select Sector SPDR
, a widely-followed exchange traded fund that tracks financial services stocks, was flat in early afternoon trading.
was one of the more heavily-traded big financial stocks Monday. Roughly 4.5 million shares of MetLife had changed hands less than half way through the trading day, compared to a trailing three month average daily volume of 8.8 million shares. MetLife shares were lower by 1.62% to $38.92.
MetLife has been the subject of negative headlines in recent days related to a controversial practice known as
retained asset accounts . Rather than paying policyholders a lump sum, many life insurers pay death benefits by setting up interest-bearing checking accounts. The practice has drawn scrutiny from New York Attorney General Andrew Cuomo, who subpoenaed several insurers including MetLife,
Prudential shares were down 1.35% Monday, though on lighter volumes. Shares of Genworth were higher, though Genworth, which has a sizeable mortgage insurance business, often trades more similarly to other mortgage insurers like
MGIC Investment Corp.
, which were higher by 2.77% and 2.1% respectively. However,
( PMI), another mortgage insurer, was down by 2.64%.
Among the four megabanks banks on Monday,
was the only one in positive territory, though by just 0.59%. Shares of
Bank of America
were down by two cents following a report in
The Wall Street Journal
the bank is looking to unload its stake in money management kingpin
. Shares of BlackRock were down by 1.07%.
Written by Dan Freed in New York
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.