Volume Spike Investor

Fifth Third Bancorp (NASDAQ: FITB) has gotten a lot of pre-market interest.  This usually appears in the “after-hours most actives” at NASDAQ, but those are generally trade settlements.  This morning is different as we have an analyst upgrade carrying the stock, and if any sector needs upgrades to boost interest it is harder to find one in more need than the financial sector.  Fifth Third closed at $10.61 yesterday and we have seen more than 1.4 million shares trade hands at a last trade level of $11.06 based upon a 9:21 AM EST snapshot.

We are even seeing an interest in the Fifth Third preferred stock which trades as “FITBP” on NASDAQ.  As of 9:21 AM EST we saw 200,000 of the preferred shares trade.  Yesterday’s close was $107.38, and these traded up at $112.51.

Jon Ogg

July 2, 2008