Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Make a Bundle on Dynegy $DYN

Dynegy Inc (DYN) shares shot up 26.10% in trading on Tuesday. The increase came after reports that “Dynegy Inc.’s holding company filed for Chapter 11 bankruptcy protection in a way that could cause losses for bondholders without harming parent-company shareholders that include Carl Icahn and hedge fund Seneca Capital,” writes the Wall Street Journal. Share prices went from $2.95 at close Monday to $3.72 a share at 2pm EST Tuesday.

Hedge Fund Strategies

The following funds made the most on the news:

1. Icahn Capital Lp – Carl Icahn: Gained $13.9 million

2. Seneca Capital – Douglas Hirsch: Gained $11.3 million

3. Canyon Capital Advisors – Joshua Friedman And Mitchell Julis: Gained $4.7 million

4. Altai Capital – Rishi Bajaj, Toby Symonds, And Steve Tesoriere: Gained $3.1 million

5. Blue Ridge Capital – John Griffin: Gained $2.6 million

6. Fir Tree – Jeffrey Tannenbaum: Gained $2.2 million

7. Avenue Capital – Marc Lasry: Gained $2.1 million

8. Qvt Financial – Daniel Gold: Gained $1.1 million

9. Kingdon Capital Managemet – Mark Kingdon: Gained $728,000

10. Frontpoint Partners – Steve Eisman: Gained $674,000

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in DYN since the end of June. We did not take into account their option positions.