CQS’ Hintze Says Duration Sweet Spot is Two Years or Less (Reuters)
LONDON, July 31 (Reuters) – The founder of credit hedge fund CQS Cayman LP told investors on Tuesday he remained “constructive” on the medium-term market outlook and that the duration sweet spot for investments was two years or less. In a mid-year review, Michael Hintze said increased volatility was creating good opportunities, and he liked asset-backed securities, structured credit, convertibles and loans, but had a low allocation to fixed rate bonds.
Hedge Fund Viking Invests in Battle to Keep Avocados Ripe Longer (Bloomberg)
Viking Global Investors, one of the world’s biggest hedge funds, is joining the fight to keep avocados ripe longer. Andreas Halvorsen’s $26 billion firm led a recent $70 million fundraising round for Apeel Sciences, a California startup that is backed by Bill Gates and Andreessen Horowitz. The company, which uses food waste and other plant material to delay the aging of fruit and vegetables, has now raised a total of $110 million as it pitches its product to grocers as a way to reduce food waste and boost margins.
Phongphan/Shutterstock.com
Citadel’s Griffin Donates $20 Million to Norton Museum of Art (Bloomberg)
Hedge fund billionaire Ken Griffin promised $20 million to the Norton Museum of Art, the largest single donation to the institution in its 77-year history. The gift comprises $16 million toward construction of a 59,000-square-foot wing designed by architect Norman Foster plus $4 million to endow the directorship, the West Palm Beach, Florida, museum said Tuesday in a statement. The new facility will be named the Kenneth C. Griffin Building.
Trump Impeachment Campaigner will be Democrats’ largest donor in 2018 (NewsWeek.com)
The man who launched an impeachment campaign to oust Donald Trump from the Oval Office has found a new way to deliver a big blow to the president. Tom Steyer, a billionaire hedge fund manager and liberal activist, will be donating at least $110 million dollars to Democrats this midterm election cycle. The sizeable contribution will make Steyer the biggest donor on the left, according to a report by Politico. Steyer is set to put the money toward his two political organizations, NextGen America and Need to Impeach. The former is an environmental advocacy nonprofit and political action committee that Steyer formed in 2013. It’s currently focused on registering young voters across the country.
Insider Selling: Iqvia Holdings Inc (IQV) Insider Sells 368,640 Shares of Stock (WeekHerald.com)
Iqvia Holdings Inc (NYSE:IQV) insider Ari Bousbib sold 368,640 shares of Iqvia stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $122.09, for a total value of $45,007,257.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Insider Selling: salesforce.com, inc. (CRM) Chairman Sells 10,000 Shares of Stock (MaconDaily.com)
salesforce.com, inc. (NYSE:CRM) Chairman Marc Benioff sold 10,000 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $142.14, for a total value of $1,421,400.00. The sale was disclosed in a document filed with the SEC.
Insider Buying: Energen Co. (EGN) Insider Buys 60,382 Shares of Stock (WeekHerald.com)
Energen Co. (NYSE:EGN) insider Carl C. Icahn acquired 60,382 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was purchased at an average price of $74.21 per share, for a total transaction of $4,480,948.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: CarGurus Inc (CARG) VP Sells 54,000 Shares of Stock (MaconDaily.com)
CarGurus Inc (NASDAQ:CARG) VP Oliver Ian Chrzan sold 54,000 shares of CarGurus stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $40.13, for a total value of $2,167,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Snap-on Incorporated (NYSE:SNA) SVP Sells 35,500 Shares of Stock (FairFieldCurrent.com)
Snap-on Incorporated (NYSE:SNA) SVP Anup R. Banerjee sold 35,500 shares of the company’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $172.00, for a total transaction of $6,106,000.00. Following the completion of the sale, the senior vice president now directly owns 7,293 shares in the company, valued at $1,254,396. The transaction was disclosed in a filing with the Securities & Exchange Commission.
