Enzon Pharmaceuticals Inc (ENZN)’s Shares Rally After Special Cash Dividend Announcement

The shares of Enzon Pharmaceuticals Inc (NASDAQ:ENZN) have rallied in excess of 16% in trading today after the company announced a special cash dividend for its investors. The biotechnology company will pay the special dividend on August 12, 2015 to its shareholders of record on July 21, 2015. One of the most impressive facts about Enzon Pharmaceuticals is its return on assets, which stands at 88.70%. The biotechnology company announced three new directors in its annual shareholder meeting held on June 30, 2015. The Piscataway, New Jersey based company offers licensing for a huge portfolio of drugs including PegIntron for the treatment of chronic Hepatitis C, Macugen for macular degeneration associated with neovascular issues, Sylatron for melanoma, and CIMZIA for Crohn’s disease & rheumatoid arthritis.

Enzon Pharmaceuticals Inc (NASDAQ:ENZN) has witnessed a growth of 29.87% year-to-date and its shares are currently trading at $1.41. Smart money has held a steady outlook for the biotechnology firm of late, with eight hedge fund investors holding $9.81 million in the company on March 31 compared to previous investments of $9.89 million from nine investors one quarter earlier. It has notably attracted an investment from Carl Icahn, with Enzon Pharmaceuticals being one of the few small-cap investments of the legendary activist investor.

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In terms of insider activity, Enzon Pharmaceuticals Inc (NASDAQ:ENZN) has remained stable in the past six months. Keeping an eye on the insider activity provides an idea about the sentiment among insiders. For a better idea of the hedge fund activity going on in Enzon Pharmaceuticals, let’s analyze the recent action regarding its stock.