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Here’s Why BrightSphere Investment Group Is Soaring Monday

TheMotleyFool

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Here’s Why BrightSphere Investment Group Is Soaring Monday

The stock market was having a pretty strong day on Monday, with the S&P 500 benchmark index up by about 0.6% and most other major indices higher as well. However, asset management firm BrightSphere Investment Group (NYSE: BSIG) was a particular standout. As of 10:45 a.m. EDT, BrightSphere was higher by more than 11% and was trading at a fresh 52-week high.

BrightSphere's move wasn't related to earnings -- those aren't due out until next week. Rather, the company announced the sale of some key assets that will provide an influx of cash.

Image source: Getty Images.

Source Fool.com

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