Hedge Fund Performance Update: April 2022 (Preqin)
Hedge funds faced another difficult month in 2022 with the Preqin All-Strategies Hedge Fund Benchmark declining 2.76% in April, eroding gains made in March of +1.19%. This heatmap presents the hedge fund performance benchmarks for April 2022, plus the YTD and 12-month returns for all top-level strategies, structures, denominations, and size classifications.
Anatole Hedge Fund Stems Losses After ‘Disastrous’ China Bets (Bloomberg)
Anatole Investment Management Ltd.’s flagship hedge fund stabilized in April after the firm scaled back its bullish wagers on stocks. The fund, which was hurt by bargain hunting for Chinese shares since late last year, dropped less than half a percentage point in April, according to people familiar with the matter who asked not to be named discussing private information. The fund has lost about 22% this year, the people said. It managed $1.9 billion as of March, one of the people said.
Hedonova Hedge Fund Raises $18.4m at a $330m Valuation in Latest Funding Round Led by Chemie-Tech DMCC (Hedge Week)
Hedonova, an alternative assets hedge fund, is raising a strategic series A1 funding round of $18.4 million at a $330 million valuation from Chemie-Tech DMCC, a UAE based engineering and construction company. Chemie-Tech’s investment will strengthen Hedonova’s data centre investing and equipment finance business, and comes on the heels of Hedonova’s recent $3 million investment in the alternative investment management firm, Alts.
GameStop Stock: Melvin Capital Defeated By The Apes (The Street)
Melvin Capital’s winding down of its fund represents a stunning defeat – and that defeat has widely been attributed to GameStop shareholders. Hedge fund Melvin Capital, notoriously known for betting against GameStop (GME) stock, has announced that it is winding down its activities and returning capital to its clients. Melvin has succumbed to gigantic successive losses, in large part thanks to retail investor-provoked short squeezes.
Hedge Funds Are Holding Their Breath on This Biopharma IPO (Institutional Investor)
Several prominent hedge funds disclosed sizable stakes in PepGen, which went public earlier this month. The folks at PepGen certainly showed some courage earlier this month when they chose to proceed with their initial public offering.On May 5, the development-stage biopharma company sold nine million shares at $12 a pop.
Monday 5/23 Insider Buying Report: CAR, PLD (Nasdaq.com)
On Wednesday, Avis Budget Group’s Executive Chairman, Bernardo Hees, made a $4.94M buy of CAR, purchasing 26,000 shares at a cost of $189.90 a piece. Bargain hunters are able to pick up CAR at a price even lower than Hees did, with the stock trading as low as $176.89 at last check today which is 6.9% below Hees’s purchase price. Avis Budget Group is trading up about 1.4% on the day Monday. This buy marks the first one filed by Hees in the past twelve months. And on Friday, Director Avid Modjtabai bought $1.78M worth of Prologis, buying 15,000 shares at a cost of $118.65 a piece. Prologis is trading down about 1.1% on the day Monday.
Executives Sell More Than $260M Of 3 Stocks (Benzinga)
Electronic Arts: The Trade: Electronic Arts Inc. (EA) Chief Experience Officer Chris Bruzzo sold a total of 2,000 shares at an average price of $128.39. The insider received around $256.78 thousand from selling those shares. Cactus: The Trade: Cactus, Inc. (WHD) President and CEO Scott Bender sold a total of 180,000 shares at an average price of $48.00. The insider received around $8.64 million from selling those shares.
Insider Trading: May 23, 2022 (BIV.com)
Insider James A. Pattison, 10% owner. Company: Westshore Terminals Investment Corp. (TSX:WTE). Shares owned: 4,353,741. Trade date: May 6. Trade total: $9,451,755. Trade: Acquisition of 280,052 shares at a price of $33.75 per share. Insider Nojan Abrary, officer. Company: Methanex Corp. (TSX:MX). Shares owned: 23,704. Trade date: May 9. Trade total: $478,736. Trade: Acquisition of 8,039 shares at prices from $48.57 to $63.33 per share.
