Hedge Fund D.E. Shaw to Oppose Diversified Healthcare Trust Merger with OPI (Reuters)
A second large Diversified Healthcare Trust (DHC.O) shareholder is opposing the real estate investment trust’s merger with Office Properties Income Trust (OPI.O) and is pushing the board to pursue better alternatives, according to a regulatory filing. Hedge fund D.E. Shaw, which owns a 6.1% stake in Diversified Healthcare Trust, said in the filing on Monday that it told the company privately last month that it planned to vote against the deal. It also said its representatives met with board members twice, in May and again last week, to underscore a “willingness to work constructively” to find financing options.
Shanghai Banxia, a Leading Chinese Hedge Fund, Unwinds Bet on Property Rebound After Flagship Fund Sinks 9.8 per cent in May (SCMP.com)
A top-performing Chinese macro hedge fund has slashed its holdings in property stocks, as their declines hurt returns just two months after predicting a major rebound in the sector. Shanghai Banxia Investment Management Center’s flagship Banxia Macro Fund slumped 9.8 per cent in May, the biggest monthly loss since at least 2018, after it sold property-related shares and cut commodities positions, according to a letter to investors that was seen by Bloomberg News.
Hedge Funds Get Sucked into Rally Ahead of Fed Rate Decision (AFR.com)
Big money managers are slashing bearish wagers and boosting equity exposure ahead of a week of potentially market-moving news. Large speculators, mostly hedge funds, trimmed net short positions in S&P 500 e-mini futures from a record high, according to data from the US Commodity Futures Trading Commission. The reduction of almost 90,000 contracts over the week through Tuesday ranks among the five biggest episodes of short covering since 2018.
Tuesday 6/13 Insider Buying Report: AKYA, OABI (Nasdaq.com)
On Monday, Akoya Biosciences’ Director, Thomas A. Raffin, made a $10.1M buy of AKYA, purchasing 2,020,000 shares at a cost of $5.00 each. Raffin was up about 30.0% on the purchase at the high point of today’s trading session, with AKYA trading as high as $6.50 in trading on Tuesday. Akoya Biosciences is trading up about 18.6% on the day Tuesday. This purchase marks the first one filed by Raffin in the past twelve months. And on Friday, Chief Executive Officer Matthew W. Foehr purchased $519,800 worth of OmniAb, purchasing 115,000 shares at a cost of $4.52 a piece. Before this latest buy, Foehr bought OABI at 2 other times during the past twelve months, for a total investment of $1.29M at an average of $3.23 per share. OmniAb is trading up about 8.4% on the day Tuesday. So far Foehr is in the green, up about 10.6% on their purchase based on today’s trading high of $5.00.
Satsuma Pharmaceuticals And 2 Other Penny Stocks Insiders Are Aggressively Buying (Benzinga)
Satsuma Pharmaceuticals: The Trade: Satsuma Pharmaceuticals, Inc. (STSA) 10% owner Shin Nippon Biomedical Laboratories Ltd acquired a total 30,477,313 shares an average price of $0.91. To acquire these shares, it cost around $27.73 million. The company’s Director Ken Takanashi also purchased the company’s shares worth $20 million. Erasca: The Trade: Erasca, Inc. (ERAS) Chairman and CEO Jonathan Lim acquired a total of 100,000 shares at an average price of $2.75. The insider spent around $275 thousand to buy those shares.
