Nvidia Is on Sale and Cathie Wood Is a Big Buyer (Bloomberg)
A rebound for Cathie Wood’s exchange-traded funds may depend in part on an equally battered large-cap technology stock that’s been a long-time favorite of hers — Nvidia Corp. ETFs controlled by the growth stock proponent’s ARK Investment Management LLC have been loading up on Nvidia shares, purchasing more than 400,000 in September, according to the firm’s daily trading disclosures. ARK funds held more than 675,000 shares as of June 30, according to data compiled by Bloomberg.
$14 Billion Hedge Fund Schonfeld is Focused on Hiring as Underperforming Shops Face a Shakeout (Business Insider)
The hedge fund industry in the early days of a consolidation wave, according to headhunter Ilana Weinstein. Speaking at the SALT conference, Weinstein said investors should push funds for more transparency. Schonfeld CEO Ryan Tolkin said the $14.1 billion firm is looking to attract talent amid the shakeout. The writing is on the wall for hedge funds whose performance have taken massive hits over the last few months.
Activist Involvement in Wix Can Unlock ‘Meaningful Value’ (Investing.com)
Shares of Wix.com Ltd (NASDAQ:WIX) gained 10% early Monday after activist hedge fund Starboard Value disclosed a 9% stake in the company Friday afternoon and, according to reports from Reuters, spoke to the Israel-based website building platform about improving operations. Starboard is said to support the company’s plans to become profitable and believes it can improve its margins and grow further. Starboard does not plan to seek board seats at the time, it was added.
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From One-Man Band to Orchestra (Hedge Nordic)
Stockholm (HedgeNordic) – After several years of successfully managing his hedge fund and asset management firm all by himself, Aalborg-based stock picker Andreas Aaen has turned Symmetry Invest from a one-man band into a high-performing orchestra of six people. “A small size is an advantage, but being too small is a disadvantage,” previously argued Aaen, who founded Symmetry Invest in early 2013 to manage his own money and capital from friends and family.
D. E. Shaw’s Latest New Fund (Institutional Investor)
Why the multistrategy giant believes that now is a good time for this niche offering. The D. E. Shaw Group is raising money for a new fund.The hedge fund giant disclosed in a regulatory filing that it’s in the process of launching the D. E. Shaw Diopter Fund. This will be a private, credit-focused niche fund that will primarily pursue investments related to synthetic securitizations.
Kinross Gold Wins Hedge Fund’s Favour with Buyback Plan (BNN Bloomberg)
Kinross Gold Corp. announced plans to ramp up its share repurchases subsequent to talks with a renowned activist investor and other shareholders. The Toronto-based miner said in a news release Monday that it will aim to buy back US$300 million of its shares before the end of this year. It added that it will allocate 75 per cent of excess cash to buybacks in 2023 and 2024.
Outflows from China-Focused Hedge Funds at 15-year High (ChinaEconomicReview.com)
Hedge funds that invest in Greater China are showing their biggest net fund outflows in at least 15 years, according to data for the first seven months of 2022, as investors cut exposure to Chinese assets and await greater policy clarity, reports Reuters. For the January-July period, Greater China-focused hedge funds recorded outflows of $5.6 billion and inflows of $2.01 billion, according to Eurekahedge data from With Intelligence. The $3.6 billion year-to-date net outflow is larger than any full-year outflows since the hedge fund database began compiling such data in 2008. It also marks a reversal from net inflows of $1.8 billion in 2021 and a hefty $8.7 billion in 2020, when investors piled into a bull run in Chinese markets.
Autonomy Capital Offers Investors the Opportunity to Exit the Fund at May’s Value (UKDaily.News)
Autonomy Capital, the macro hedge fund hit by a sharp sell-off in emerging markets, has offered investors a chance to withdraw their money and repay some losses after they fell nearly 30 percent so far this year. Founded in 2003 by former Lehman currency and rates trader Robert Gibbins, Autonomy is a well-known global macro hedge fund investing across a broad range of developed and emerging markets. The company is known for its bets on Argentina’s sovereign debt — which later turned sour — and its long-term bullish view of the country’s prospects.
Monday 9/19 Insider Buying Report: RILY, TMHC (Nasdaq.com)
On Friday, B. Riley Financial’s Director, Randall E. Paulson, made a $276,460 purchase of RILY, buying 5,892 shares at a cost of $46.92 a piece. B. Riley Financial is trading up about 1.5% on the day Monday. Before this latest buy, Paulson purchased RILY on 5 other occasions during the past twelve months, for a total cost of $5.66M at an average of $52.70 per share. And at Taylor Morrison Home, there was insider buying on Wednesday, by CFO Louis Steffens who bought 11,000 shares for a cost of $23.07 each, for a trade totaling $253,770. Taylor Morrison Home is trading up about 1.5% on the day Monday. Steffens was up about 7.4% on the buy at the high point of today’s trading session, with TMHC trading as high as $24.78 at last check today.
Insider Trading: September 19, 2022 (BIV.com)
Insider Jack Oliver Lundin, director. Company: Lundin Gold Inc. (TSX-V:LUG). Shares owned: 44,700. Trade date: Sept. 1. Trade total: $395,595. Trade: Acquisition of 44,700 shares at a price of $8.85 per share. Insider Amar Doman, director. Company: Doman Building Materials Corp LTD. (TSX:DBM). Shares owned: 236,000. Trade date: Sept. 1, 2. Trade total: $236,000. Trade: Acquisition of 40,000 shares at a price of $5.90 per share.
Costco Wholesale Executive Vice President Sold $1.80M In Company Stock (Benzinga)
Russell D Miller, Executive Vice President at Costco Wholesale (COST), reported a large insider sell on September 14, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Miller sold 3,335 shares of Costco Wholesale. The total transaction amounted to $1,799,299.
