A new filing with the Securities and Exchange Commission showed that Claren Road Asset Management initiated a position in DHT Holdings Inc (NYSE:DHT). The fund reported holding around 3.5 million shares, which represent 9% of the company’s common stock. The holding is passive by nature and has a value of $21.8 million.
Aside from Claren Road, several other funds revealed moves in the company in the past couple of days. Daniel Gold‘s QVT Financial also revealed initiating a passive stake in the company, which contains 2.1 million shares, equal to 5.43% of the stock.
The company said earlier that it intends to call a special meeting of shareholders in order to discuss the increase of number of outstanding shares to 150 million. At the beginning of December, the company completed a private placment of $110 million worth of equity, which consist of 13.4 million shares of common stock, and 97,579 shares of preferred stock. The company earned net proceeds of about $107 million, which will be used for corporate purposes, such as buying of new vessels.
DHT also reported recently that it has entered into an agreement with South Korean-based Hyundai Heavy Industries Co., Ltd., under the terms of which the latter will build two very large crude carriers. The value of the deal amounts to $92.7 per vessel. The vessels will be delivered in 2016.
Aside from Claren Road, and QVT, another hedge fund that made moves in DHT in the past several weeks, is Kevin Michael Ulrich‘s Anchorage Advisors. The fund last reported holding almost 5.0 million shares of the company. Also, Nathaniel August’s Mangrove Partners has trimmed the position in the company to 4.97%, from over 6% held earlier. Renaissance Technologies, led by Jim Simons, disclosed in its latest 13F, holding some 160,700 shares of the company, with a reported value of $702,000.