Why Jefferies Financial Stock Jumped 10.7% Higher This Week
The share price of Jefferies Financial Group (NYSE: JEF) jumped higher this week, rising 10.7% from last Friday's close through 12:10 p.m. EST on Friday, according to S&P Global Market Intelligence. The stock is trading at about $37.75 per share and is down roughly 6.1% over the past year, as of Jan. 6.
Jefferies' gains came within a flat week for the markets as the S&P 500 was up 1%, the Dow Jones Industrial Average gained 1.2%, and the Nasdaq Composite was up 0.3% for the week.
Jefferies got a bump this week after it announced the distribution date for the dividend of Vitesse Energy, which it is spinning off. Vitesse is one of the last vestiges of Leucadia National, a baby Berkshire Hathaway that merged with Jefferies in 2012.
Source Fool.com
