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Hedge Fund and Insider Trading News: Tom Steyer, Sprott Asset Management, Canyon Partners, Southwestern Energy Company (SWN), JPMorgan Chase & Co. (JPM), and More

Sprott to Acquire Tocqueville Gold Strategies (Hedge Week)
Sprott Asset Management (SAM) is to acquire Tocqueville Asset Management’s gold strategy asset management business, with Tocqueville gold investment team comprised of Senior Portfolio Manager John Hathaway and Portfolio Managers Douglas Groh and Ryan McIntyre will join Sprott Asset Management on closing. “We are pleased to be acquiring Tocqueville’s gold strategy asset management business,” says Whitney George, President of Sprott. “John Hathaway and his team are among the world’s most respected gold equities managers and we have enjoyed an excellent working relationship during the planning and launch of our joint venture over the past year. This transaction is a natural extension of that partnership, through which John will become a Sprott shareholder. We look forward to working closely together to serve our clients.”

A $30 Billion Exodus Puts Hedge Funds for Masses to the Test (Bloomberg)
Money pools that offer hedge-fund strategies usually reserved for sophisticated investors to regular folks are seeing an unprecedented flight of capital after several supposedly liquid funds ran into trouble in Europe. Investors have fled these so-called liquid alternative funds, pulling more than $30 billion in the first half, the most since the 2008 financial crisis, according to data provider Eurekahedge. Normally, that shouldn’t be a problem because unlike traditional hedge funds, these more regulated products frequently offer investors the ability to get their money back daily. But after a stellar decade during which such funds increased assets five-fold, some of them have loaded up on investments that may be difficult to sell quickly — and put their promise of near-instant cash access to the test.

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The Hedge Fund Specializing in Credit, But Winning in Stocks (Institutional Investor)
Distressed loans and debt still account for a large slice of Canyon Partners’ portfolio, if not its recent returns. Canyon Partners may be known as a multi-strategy hedge fund firm with a strong emphasis on credit strategies. But it was equities that drove returns amid an overall surging stock market in the first half of this year. The Canyon Value Realization Fund gained 2.4 percent in the second quarter and…

Tom Steyer Spends More than $7 million on Ads in First Month, Hammers Early Primary States (OpenSecrets.org)
In the month since Tom Steyer jumped into the Democratic presidential field with a promise to spend $100 million on his own campaign, the billionaire activist and former hedge fund manager has made his name known across early primary states with millions in ad buys. But it remains to be seen whether Steyer, a major Democratic donor who made headlines in recent years for his calls to impeach President Donald Trump, can convert name recognition into a spot on the Democratic debate stage in September and a viable campaign in the long run. The Steyer campaign has spent more than $7 million on TV and digital ads during its first month, according to data provided by social media companies and an analysis of Federal Communications Commission filings available in the OpenSecrets political ad database.

Hedge Funds to Increase ESG-Linked Investments, Survey Finds (Corporate Secretary)
Hedge fund firms expect to increase the amount they invest based on ESG factors next year, according to Iowa-based BarclayHedge. Fifty-eight percent of hedge fund assets will be tied to ESG criteria in 2020, up from 42 percent last year and the current 52 percent, BarclayHedge finds in a survey of global hedge fund managers and commodity trading advisers.

Timing the Market in Specific Industries Delivers for Hedge Fund Managers (Phys.org)
Hedge fund mangers who time the market ahead of positive and negative news within the manufacturing industry outperform competitors, research from FIU Business finds. The study found that timing the market ahead of positive and negative news within specific industries, versus overall market timing, pays off for skilled hedge fund managers -and, ultimately, their investors. The manufacturing sector, specifically, delivered superior industry-specific results.

Sebi Eases Investment Norms for AIFs Operating in IFSC (LiveMint.com)
New Delhi: Sebi on Friday said investment provisions for domestic Alternative Investment Funds (AIFs) will also be applicable for such entities operating in International Financial Services Centre (IFSC). The market regulator’s circular comes after it held consultations with stakeholders and decided to harmonise the provisions governing investments by AIFs incorporated in IFSC with those applicable to domestic AIFs.

Judge Wants to Avoid Delays in Chris Collins’ Insider Trading Trial (The Buffalo News)
Federal prosecutors claim their new indictment against Rep. Chris Collins eliminates one of his legal defenses. The judge in the case, eager to avoid more delays before a trial next year, wants to make sure Collins agrees. Earlier this week, U.S. District Judge Vernon S. Broderick met by telephone with attorneys on both sides and asked the defense to weigh in on whether Collins’ “speech and debate” defense is still credible. “I’m cautiously optimistic that at least some of the issues that have been raised by the speech and debate clause motion, or more generally, by the speech and debate clause, may be eliminated,” Broderick told the lawyers.

Southwestern Energy Co (SWN) President and CEO William J Way Bought $191,000 of Shares (Guru Focus)
President and CEO of Southwestern Energy Co, William J Way, bought 100,000 shares of SWN on 08/09/2019 at an average price of $1.91 a share. The total cost of this purchase was $191,000. Southwestern Energy Co is an oil and gas company that explores, develops, and produces oil and natural gas within the United States. It is focused on unconventional natural gas in two US shale plays and oil and gas formations in the United States. Southwestern Energy Co has a market cap of $1.06 billion; its shares were traded at around $1.96 with a P/E ratio of 1.17 and P/S ratio of 0.26. GuruFocus has detected 3 severe warning signs with Southwestern Energy Co.

Friday 8/9 Insider Buying Report: JPM, TWOU (Nasdaq.com)
On Thursday, JPMorgan Chase & Co (JPM)’s Director, Mellody L. Hobson, made a $2.00M purchase of JPM, buying 18,200 shares at a cost of $109.91 a piece. So far Hobson is down about 0.8% on the purchase, with shares trading as low as $109.03 at last check today. JPMorgan Chase & Co is trading down about 0.5% on the day Friday. Before this latest buy, Hobson bought JPM on 3 other occasions during the past twelve months, for a total cost of $2.32M at an average of $111.17 per share. And at 2U (TWOU), there was insider buying on Wednesday, by Director Gregory K. Peters who purchased 72,358 shares at a cost of $13.95 each, for a trade totaling $1.01M. Before this latest buy, Peters purchased TWOU on 2 other occasions during the past year, for a total investment of $1.00M at an average of $45.01 per share. 2U is trading up about 2.8% on the day Friday. So far Peters is in the green, up about 7.0% on their purchase based on today’s trading high of $14.92.

The CEO of Par Pacific Holdings (NYSE: PARR) is Buying Shares (Analyst Ratings)
Today, the CEO of Par Pacific Holdings (PARR), William Pate, bought shares of PARR for $555.6K. This recent transaction increases William Pate’s holding in the company by 19.77% to a total of $4.18 million. Following William Pate’s last PARR Buy transaction on May 30, 2017, the stock climbed by 4.9%. Based on Par Pacific Holdings’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.41 billion and quarterly net profit of $28.17 million. In comparison, last year the company earned revenue of $856 million and had a net profit of $15.94 million.

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