09:04 AM EDT, 06/11/2025 (MT Newswires) -- Financial stocks were edging higher pre-bell Wednesday, with The Financial Select Sector SPDR Fund (XLF) advancing 0.1%.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was 0.5% higher, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was down 0.3%.

Brown & Brown ( BRO ) shares were down 1.8% after the company priced a public offering of 39.2 million shares at $102 apiece for $4 billion.

Ares Management ( ARES ) said it has closed the Japan DC Partners I fund, its first investment vehicle dedicated to data center investment and development, with about $2.4 billion in total equity commitments. Ares shares were up 1.2%.

Fidelis Insurance ( FIHL ) shares were down 4.1% after the company priced $400 million of 7.75% fixed-rate reset subordinated notes due 2055.