The close of trading last week left Bank of America's (NYSE: BAC ) stock in a spectacular position, not far from its 52-week high of $13.55 as it ended Friday with a price of $13.43.
In fact, the entire banking sector was in the green, and in a big way. The KBW Bank Index (DJINDICES: ^BKX ) ended up with a remarkable 4.4% gain from its open on Monday, as did B of A with a 3.4% rise. The other big banks did swimmingly, as well: Wells Fargo (NYSE: WFC ) rose 4.6% during the week, Citigroup (NYSE: C ) floated upward by 5.7%, and JPMorgan Chase (NYSE: JPM ) saw an increase of 6.6% -- especially startling considering the hot water that CEO Jamie Dimon has found himself in lately.
Oodles of good news for the nation's biggest banks
What sent financial stocks soaring? Much good news found its way into the media toward the end of the week, giving the whole sector a much-needed lift, and every joyful report featured Bank of America.
Top 10 Industrial Disributor Stocks To Own Right Now: John Hancock Premium Dividend Fund (PDT)
John Hancock Patriot Premium Dividend Fund II (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to provide high current income together with capital growth. The Fund invests in a diversified portfolio of dividend-paying preferred and common stocks. It invests at least 80% of its net assets in dividend-paying securities. The Fund will normally invest more than 65% of its total assets in securities of companies in the utilities industry. Preferred stocks and debt obligations in which the Fund invests are rated investment grade (at least BBB by Standard & Poor�� or Baa by Moody�� Investors Service) at the time of investment, or will be preferred stocks of issuers of investment-grade senior debt, or if not rated, will be of comparable quality as determined by the Fund�� investment advisor. The Fund will invest in common stocks of issuers, whose senior debt is rated investment grade, or in the case of issuers that have no rated senior debt outstanding, whose senior debt is considered by its advisor to be of comparable quality. Its portfolio includes common stocks, preferred securities and short-term investments.
In May 2007, the Fund completed the acquisition of John Hancock Patriot Preferred Dividend Fund. In June 2007, the Fund acquired Hancock John Patriot Global Dividend Fund and John Hancock Patriot Premium Div Fund I. On October 10, 2007, the Fund completed the acquisition of John Hancock Patriot Select Dividend Trust Fund.
The Fund invests in industries, such as multi-utilities, electric utilities, investment banking and brokerage, other diversified financial services, oil and gas exploration and production, gas utilities, consumer finance, life and health insurance, and integrated telecommunication services. John Hancock Patriot Premium Dividend Fund II�� investment advisor is John Hancock Advisers, LLC, a wholly owned subsidiary of John Hancock Financial Services, Inc., which is a subsidiary of Manulife Fina! ncial Corporation. The Fund�� sub-advisor is MFC Global Investment Management (U.S.), LLC.
Advisors' Opinion:- [By Ari Charney]
John Hancock Premium Dividend Fund (PDT) tends to allocate roughly 30% to 40% of the portfolio to equities and 60% to 70% to preferred stock, with the utilities and financial sectors as its main focus.
5 Best Financial Stocks To Watch Right Now: Allstate Corp (ALS)
The Allstate Corporation (Allstate), November 5, 1992, is a holding company for Allstate Insurance Company. The Company�� business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and their affiliates. It is engaged, principally in the United States, in the property-liability insurance, life insurance, retirement and investment product business. Allstate's primary business is the sale of private passenger auto and homeowners insurance. The Company also sells several other personal property and casualty insurance products, select commercial property and casualty coverages, life insurance, annuities, voluntary accident and health insurance and funding agreements. Allstate primarily distributes its products through exclusive agencies, financial specialists, independent agencies, call centers and the Internet. It conducts its business primarily in the United States. Allstate has four business segments: Allstate Protection, Allstate Financial, Discontinued Lines and Coverages and Corporate and Other. The Company is a personal lines insurer in the United States. Customers can access Allstate products and services, such as auto insurance and homeowners insurance through nearly 12,000 exclusive Allstate agencies and financial representatives in the United States and Canada. In October 2011, the Company acquired Esurance and Answer Financial from White Mountains Insurance Group.
ALLSTATE PROTECTION SEGMENT
In this segment, the Company principally sells private passenger auto and homeowners insurance through agencies and directly through call centers and the Internet. These products are marketed under the Allstate, Encompass and Esurance brand names. The Allstate Protection segment also includes a separate organization called Emerging Businesses, which comprises Business Insurance (commercial products for small business owners), Consumer Household (specialty products including motorcycle, boat, renters and condominium insurance policies), A! llstate Dealer Services (insurance and non-insurance products sold primarily to auto dealers), Allstate Roadside Services (retail and wholesale roadside assistance products) and Ivantage (insurance agency). The Company also participates in the involuntary or shared private passenger auto insurance business in order to maintain its licenses to do business in many states. In some states, Allstate exclusive agencies offer non-proprietary property insurance products. Allstate brand auto and homeowners insurance products are sold primarily through Allstate exclusive agencies and serve customers who prefer local personal advice and service and are brand-sensitive. In most states, customers can also purchase certain Allstate brand personal insurance products, and obtain service, directly through call centers and the Internet.
During the year ended December 31, 2011, total Allstate Protection premiums written were $25.98 billion. Its broad-based network of approximately 10,000 Allstate exclusive agencies in approximately 9,700 locations in the United States produced approximately 86% of the Allstate Protection segment's written premiums in 2011. It provides personal property and casualty insurance products through independent agencies in the United States. Additionally, Allstate distribution, through brokering arrangements, offers non-proprietary products to consumers when an Allstate product is not available.
ALLSTATE FINANCIAL SEGMENT
Allstate Financial segment provides life insurance, retirement and investment products, and voluntary accident and health insurance products. Its principal products are interest-sensitive, traditional and variable life insurance; fixed annuities, including deferred and immediate; and voluntary accident and health insurance. Its institutional products consist of funding agreements sold to unaffiliated trusts that use them to back medium-term notes issued to institutional and individual investors. Banking products and services were offered to! customer! s through the Allstate Bank through September 2011. In 2011, after receiving regulatory approval to voluntarily dissolve, Allstate Bank ceased operations.
The Company sells Allstate Financial products to individuals through multiple intermediary distribution channels, including Allstate exclusive agencies and exclusive financial specialists, independent agents, specialized structured settlement brokers and directly through call centers and the Internet. The Company sells products through independent agents affiliated with approximately 125 master brokerage agencies. Independent workplace enrolling agents and Allstate exclusive agencies also sell its voluntary accident and health insurance products primarily to employees of unaffiliated businesses. Its mortgage loan portfolio, which is primarily held in the Allstate Financial portfolio, totaled $7.14 billion as of December 31, 2011
Allstate Financial, through several companies, is authorized to sell life insurance and retirement products in all 50 states, the District of Columbia, Puerto Rico, the United States, Virgin Islands and Guam. Allstate Financial distributes its products to individuals through multiple distribution channels, including Allstate exclusive agencies and exclusive financial specialists, independent agents (including master brokerage agencies and workplace enrolling agents), specialized structured settlement brokers and directly through call centers and the Internet.
OTHER BUSINESS SEGMENTS
The Company�� Corporate and Other segment consistsof holding company activities and certain non-insurance operations. It�� Discontinued Lines and Coverages segment includes results from insurance coverage that it no longer writes and results for certain commercial and other businesses in run-off. Its exposure to asbestos, environmental and other discontinued lines claims is presented in the segment. The segment also includes the historical results of the commercial and reinsurance businesses ! sold in 1! 996.
Advisors' Opinion:- [By Adrian Day]
Adrian Day: Yes, yes, I like the concept of looking up the secondary plays. I mean, you know we own Altius (ALS) for example, rather than Alderon (ADV). Altius owns 30% of Alderon, that is more diversified, has a better balance sheet. If Alderon succeeds, Atius will succeed.
5 Best Financial Stocks To Watch Right Now: United States Gasoline Fund LP (UGA)
United States Gasoline Fund, LP (UGA) is a commodity pool that issues limited partnership interests (units). The investment objective of UGA is for the changes in percentage terms of its units��net asset value (NAV) to reflect the changes in percentage terms of the spot price of gasoline (also known as reformulated gasoline blendstock for oxygen blending (RBOB)) for delivery to the New York harbor, as measured by the changes in the price of the futures contract for gasoline traded on the New York Mercantile Exchange (the NYMEX) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire, less UGA�� expenses. UGA seeks to achieve its investment objective by investing in a mix of Futures Contracts and Other Gasoline-Related Investments. United States Commodity Funds LLC (USCF) is the general partner of UGA and is responsible for the management of UGA.
The net assets of UGA consist primarily of investments in futures contracts for gasoline, but may also consist of investment contracts for other types of gasoline, crude oil, heating oil, natural gas and other petroleum-based fuels that are traded on the NYMEX, ICE Futures or other United States and foreign exchanges (collectively, Futures Contracts). UGA may also invest in other gasoline-related investments, such as cash-settled options on Futures Contracts, forward contracts for gasoline, cleared swap contracts and over-the-counter transactions that are based on the price of gasoline, crude oil and other petroleum-based fuels, Futures Contracts and indices based on the foregoing (collectively, Other Gasoline-Related Investments).
Advisors' Opinion:- [By Aaron Levitt]
All in all, these moves should help EPD continue with its rich tradition of rising cash flows and dividends. EPD currently yields a very healthy 3.9%.
United States Gasoline Fund (UGA)One of the best ways to hedge against rising gas prices is to directly bet on that happening. The exchange-traded fund boom has made it easy for anyone with a brokerage account to hedge their gasoline consumption.
- [By Paul Ausick]
The United States Gasoline ETF (NYSEMKT: UGA) is down about 0.9%, at $55.76, in a 52-week range of $53.35 to $65.86.
The United States Brent Oil ETF (NYSEMKT: BNO) is down 1.6%, at $42.47 in a 52-week range of $36.88 to $45.05.
5 Best Financial Stocks To Watch Right Now: WisdomTree Japan Hedged Equity Fund (DXJ)
WisdomTree Japan Total Dividend Fund (The Fund) is a non-diversified fund. It seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Japan Dividend Index (The Index).
The Index is a fundamentally weighted Index that measures the performance of dividend-paying companies incorporated in Japan, listed on the Tokyo Stock Exchange and that meet other requirements necessary to be included in the WisdomTree DEFA Index. The Fund is managed by WisdomTree Asset Management, Inc.
Advisors' Opinion:- [By Dan Caplinger]
International investors have recently gotten a lot more interested in currency-hedged ETFs. But what are currency-hedged ETFs, and how can you decide whether they belong in your portfolio? (NYSEMKT: DXJ )
- [By KIPLINGER]
Investors seeking to cash in on the Japanese stock market face a Catch-22. The government is trying to goose the economy by, among other things, lowering the value of the yen, a move designed to make Japanese exporters more competitive (see Japan�� Rebound Is for Real). But a falling yen harms U.S. investors because money they have in Japanese securities translates back into fewer bucks. Enter WisdomTree Japan Hedged Equity (DXJ), an exchange-traded fund that invests in the stocks of dividend-paying Japanese firms that have a market value of at least $100 million.
- [By Philip Springer, President, Retirement Wealth Management, Inc.]
The other alternative is WisdomTree Japan Hedged Equity (DXJ). As the name suggests, it's the better alternative when the yen is declining. This fund is up 23% so far in 2013, compared with 15.5% for the iShares ETF.
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