Portfolio

The Dow Jones Industrial Average lopped off another 104.14 points Tuesday to close at 12,617.32 while the Nasdaq and S&P 500 fell 27.16 points and 12.21 points, respectively.

On July 24, 2012, The Board of Trustees of Direxion Funds is liquidating the Direxion HY Bear Fund based on the recommendation of the fund’s investment adviser, Rafferty Asset Management, LLC, according to a Securities and Exchange Commission filing.

On July 24, 2012, Olney, M.D.-based Arrow Investments is looking to add active exchange-traded funds and more alternative mutual funds to its quiver.

On July 24, 2012, Discounted exchange-traded fund provider Vanguard now tops the field of leading ETF providers among advisors in another category: favorable impressions.

Did you ever wonder why the word "billion" seems to elicit a terrible feeling in your gut? Do you remember when a billion dollars seemed like so much money it was unattainable? Do you remember when a millionaire was considered really wealthy? Now, a millionaire is not rich and a billionaire must have done something evil to become one.

Industry veteran John Sullivan is joining Dynasty Financial Services as senior vice president, RIA and Transition Services.

On July 24, 2012, Eric J. Bokota has resigned as co-portfolio manager of the FPA International Value Strategy (including the FPA International Value Fund, FPIVX), effective July 23.

Exchange-traded funds have experienced tremendous growth over the past decade but not all of that growth is positive, according to new research from Vanguard.

If municipal bond market observers feel there are other time bombs out there waiting to detonate that resemble the accusations surrounding the manipulation of Libor, they won't be found in variable-rate debt tied to the SIFMA municipal swap index.

On July 24, 2012, Newly formed alternative asset management shop Madison Park Capital Partners, LLC has hired Erik Ogard, former Ddrector of Multi Strategy Solutions for Russell Investments, as a managing principal.