What’s Next For Bitcoin ETFs? Cathie Wood, ARK Invest Experts Weigh In (Investors.com)
The cryptocurrency industry eagerly awaits the next decision from the Securities and Exchange Commission after a U.S. court ruling a week ago regarding Grayscale Investments (GBTC). Experts believe the ruling moves the U.S. another step closer to getting its first bitcoin exchange traded fund. “We’re really excited about some of the breakthroughs in the regulatory landscape when it comes to crypto,” Cathie Wood, ARK Invest CEO said during the “In The Know with Cathie Wood” podcast episode released late Friday.
Steve Cohen’s Point72 Ventures Leads $15M Fundraising in Swiss Fintech GenTwo (Coin Desk)
GenTwo, a fintech platform that specializes in securitization, raised $15 million in a Series A funding round led by hedge fund luminary Steve Cohen’s Point72 Ventures, the company said on its website. The Zurich-based firm plans to use the funding to grow internationally and to develop its financial engineering platform. The company’s PRO platform lets investors securitize and bring to market any asset or investment strategy in the form of a bankable security. It allows for non-bankable assets including real estate, fine art or digital assets to be made accessible to all investors.
Hedge Funds Block Commercial REIT Merger (The Wall Street Journal)
Real-estate investment trusts Diversified Healthcare Trust and Office Properties Income Trust say they won’t move forward with the merger proposed by their manager RMR Group. The deal’s termination follows an opposition proxy campaign by hedge funds with large stakes in Diversified Healthcare, including DE Shaw, Flat Footed, H/2 Capital Partners and Lonestar Capital. The hedge funds said the transaction would burden Diversified Healthcare, which primarily owns retirement communities and medical facilities, with office properties that are struggling to keep tenants. That would protect fee revenue for RMR but hurt Diversified Healthcare shareholders, they said.
Source: pexels
Caledonia Hedge Fund Encourages Investors to Hold On to Controversial Zillow Investment (ClaytonCountyRegister)
Caledonia, the hedge fund run by joint chief investment officers Will Vicars and Mike Messara, has urged its investors to hold and top up on their shares in North American real estate platform Zillow. Despite turmoil in the US property market, Caledonia remains confident in Zillow’s long-term potential. Mortgage rates in the US have reached their highest level in more than 20 years, leading to fewer homes on the market. As a result, some homeowners are unable to move due to the increased cost of switching to higher mortgages. However, Caledonia believes that this situation has created pent-up demand for house moves, which will eventually favor Zillow.
Ex-GIC Bond Manager Launches Hedge Fund (Finews.asia)
A former credit portfolio manager at Singapore sovereign wealth fund GIC is reportedly launching a hedge fund in London. Ex-GIC bond manager Reuben Abrams will roll out a hedge fund in London, according to a «Reuters» report citing a client note from BNP Paribas. The fund – Adira Investment Management – is a long/short strategy focused on corporate credit and launch in the fourth quarter of this year.
Column: Hedge Funds Buy US Crude as Stocks Fall (Reuters)
Portfolio investors have become less bearish about the outlook for U.S. crude oil prices as inventories fall, but the rest of the petroleum complex continued to see light selling at the end of the seasonal holiday slowdown. Hedge funds and other money managers purchased the equivalent of 19 million barrels in the NYMEX and ICE U.S. crude (WTI) futures and options contracts over the seven days ending on August 29.
Paper Says Substantial Hedge Fund Alpha Stems from Idiosyncratic Actions (Opalesque)
A new paper “Unobserved Performance of Hedge Funds’, authored by Vikas Agarwal, Stefan Ruenzi, and Florian Weigert, is forthcoming at the Journal of Finance. The paper finds that over the period from 1997 to 2017, hedge funds have earned substantial alpha (outperformance against their benchmark) based on their reported returns. However, when investigating their disclosed long equity portfolio data, the alpha is not there. Interestingly, the authors found that hedge funds’ “unobserved actions” – i.e., frequent trading, derivatives usage, short selling, and confidential holdings – account for a large part of their alpha.
Tuesday 9/5 Insider Buying Report: VAPO, QNCX (Nasdaq.com)
On Thursday, Vapotherm’s Director, Anthony L. Arnerich, made a $117,337 buy of VAPO, purchasing 37,750 shares at a cost of $3.11 each. Arnerich was up about 3.3% on the purchase at the high point of today’s trading session, with VAPO trading as high as $3.21 in trading on Tuesday. Vapotherm is trading up about 2.8% on the day Tuesday. Before this latest buy, Arnerich made one other buy in the past twelve months, purchasing $76,000 shares at a cost of $0.76 a piece. And also on Thursday, Director David Lamond purchased $107,898 worth of Quince Therapeutics, purchasing 82,052 shares at a cost of $1.31 each. Before this latest buy, Lamond made one other buy in the past year, purchasing $325,737 shares for a cost of $1.30 a piece. Quince Therapeutics is trading trading flat on the day Tuesday.
$1.5M Bet On Domo? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Inhibrx: The Trade: Inhibrx, Inc. (INBX) Sharon Rose Shabet acquired a total of 511,627 shares an average price of $19.35. To acquire these shares, it cost around $9.9 million. What’s Happening: Inhibrx announced a $200 million private placement financing. What Inhibrx Does: Inhibrx Inc is a clinical-stage biotechnology company focused on developing a pipeline of novel biologic therapeutic candidates. Domo: The Trade: Domo Inc. (DOMO) Director David Daniel Daniel III acquired a total of 137,000 shares at an average price of $10.94. To acquire these shares, it cost around $1.5 million.
ExodusPoint Capital Management LP Invests $1.10 Million in Cytek Biosciences, Inc. (NASDAQ:CTKB) (MarketBeat)
ExodusPoint Capital Management LP acquired a new position in Cytek Biosciences Inc. (NASDAQ:CTKB) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 119,770 shares of the company’s stock, valued at approximately $1,101,000. ExodusPoint Capital Management LP owned 0.09% of Cytek Biosciences at the end of the most recent reporting period. A number of other large investors also recently modified their holdings of CTKB. Royal Bank of Canada grew its stake in shares of Cytek Biosciences by 222.0% in the third quarter.
