Live Oak Bancshares, Inc. shares rise 2.16% intraday after Island Housing Trust secures $31 million for affordable housing project.

Live Oak Bancshares, Inc. rose 2.16% in intraday trading. The company's stock price increase may be attributed to the recent news of Island Housing Trust and Affirmative Investments Inc. securing $31 million from Rockland Trust for the construction of Tackenash Knoll, a 60-unit affordable housing neighborhood in Oak Bluffs, MA. This development could be seen as a positive indicator for Live Oak Bancshares, Inc., as it suggests potential growth and investment opportunities in the affordable housing sector.