09:26 AM EDT, 05/13/2024 (MT Newswires) -- Financial stocks were edging higher pre-bell Monday, with the Financial Select Sector SPDR Fund ( XLF ) up 0.4%.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was 0.9% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was down 0.7%.

Burford Capital ( BUR ) shares were down nearly 3% after the company reported that it swung to a Q1 net loss as revenue fell during the period.

UBS (UBS) stock was up over 1% after the company said that roughly $5 billion worth of Additional Tier 1 bonds have been made available for equity conversion.