Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Nevada Capital Increased Its $GNK Stake to 16.68%

Nevada Capital recently raised its stake in Genco Shipping & Trading Ltd (GNK). According to the scheduled 13G filing on October 19th, Nevada Capital now controls 6 million shares in GNK, corresponding to a 16.68% stake. Nevada Capital’s GNK position in the second quarter is unclear. This is the fifth time Nevada Capital made expansion to its GNK position after July. On September 27th, Nevada Capital had already become GNK’s largest stakeholder when it took 13.9% stake in the stock, surpassing Peter Georgiopoulos’ 12.5% stake ownership. GNK has fallen by 39% so far and is trading at $8.88 now.


In the second quarter, five hedge funds invested in GNK. Howard Marks’ Oaktree Capital Management had 1.5 million shares in the stock, and Ken Griffin’s Citadel Investment Group had 99 thousand shares.

Nevada Capital Corporation Ltd. is the investment vehicle of Seymour Schulich. The company operates as a holding company. It was incorporated in 1976 and is based in Toronto, Canada.

Genco Shipping & Trading Ltd belongs to the shipping industry. It engages in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Most of its vessels are chartered to charterers. On July 22, 2009, September 18, 2009 and December 30, 2009, GS&T completed the acquisition of the Genco Commodus, Genco Maximus and Genco Claudius, respectively. The company was incorporated in 2004 and is based in New York City, NY.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!