LPL Shares Up 8% Since IPO

The independent broker-dealer is outperforming General Motors and the markets

Shares of LPL Financial (LPLA) have risen about 4.5% this week and about 8% since the independent broker-dealer went public on Nov. 18, according to data compiled by Morningstar and other research.

In contrast, shares of General Motors (GM), which went public as a restructured entity on the same day as LPL, are up 1.8% over the past two weeks. This week, GM rose roughly 2%.

For the week, the Financial Select Sector SPDR (XLF) is trading up by about 5%. However, since Nov. 18, it is up just 2%.

The Dow Jones Industrial Average is up about 2% since Nov. 18 and has increased 3% this week.

On its first trading day, LPL shares traded on heavy volume of 10 million shares. GM trading eclipsed the stock, though, with trading of 457 million shares.  

LPL, which sold about 15% of the firm through its IPO, started trading at $33, after being priced at $30.

On Friday, its shares were trading flat on low volume at about $34.70.

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