Hedge Funds Gather Pace Ahead of Year End, as Equities, Event Driven and Crypto Strategies Soar in Market Upturn (Hedge Week)
Hedge funds are storming into the final weeks of 2020, having notched up some of their biggest gains in decades on the back of the US presidential result and positive developments in the search for a coronavirus vaccine, with equity, event driven and cryptocurrency strategies all riding high last month. Hedge Fund Research’s main Fund Weighted Composite Index grew 6.24 per cent last month, its best monthly return since December 1999, and its second biggest monthly rise since the index launched 30 years ago. Since the start of 2020, the index – a global equal-weighted measure of more than 1,400 single manager hedge fund – has advanced 7.32 per cent.
Energean Block Raises £42m for Third Point (GlobalCapital.com)
New York-based hedge fund Third Point has offloaded a £42.3m chunk of its stake in Energean, the London-listed oil and gas producer focused on the Eastern Mediterranean. Third Point Hellenic Recovery, the fund set-up by Third Point to invest in the economic regeneration of Greece after the financial crisis, was the seller. Launched after the market close on Monday evening following a pre-sounding exercise, the sale consisted of 6m shares, a 3.4% stake in Energean.
Tuesday 12/8 Insider Buying Report: HMHC, AVT (Nasdaq.com)
On Friday, Houghton Mifflin Harcourt’s Director, Daniel M. Allen, made a $507,882 buy of HMHC, purchasing 150,000 shares at a cost of $3.39 each. Allen was up about 9.3% on the purchase at the high point of today’s trading session, with HMHC trading as high as $3.70 in trading on Tuesday. Houghton Mifflin Harcourt is trading up about 2.2% on the day Tuesday. This purchase marks the first one filed by Allen in the past twelve months. And on Thursday, Director Oleg Khaykin bought $290,520 worth of Avnet, buying 9,000 shares at a cost of $32.28 a piece. This purchase marks the first one filed by Khaykin in the past twelve months. Avnet is trading down about 0.2% on the day Tuesday. Khaykin was up about 2.6% on the purchase at the high point of today’s trading session, with AVT trading as high as $33.11 in trading on Tuesday.
Pvh Corp (PVH) Chairman & CEO Emanuel Chirico Sold $34.3 million of Shares (Guru Focus)
Chairman & CEO of Pvh Corp., Emanuel Chirico, sold 378,622 shares of PVH on 12/04/2020 at an average price of $90.47 a share. The total sale was $34.3 million. PVH Corp is apparel company, which designs and markets branded dress shirts, neckwear, sportswear, jeanswear, intimate apparel, swim products, handbags, footwear and other related products. Its brands include Tommy Hilfiger and Calvin Klein.
The Senior Vice-President & Chief Financial Officer of Ball (NYSE: BLL) is Selling Shares (Analyst Ratings)
Yesterday, the Senior Vice-President & Chief Financial Officer of Ball (BLL), Scott C Morrison, sold shares of BLL for $2.82M. Following Scott C Morrison’s last BLL Sell transaction on September 16, 2020, the stock climbed by 9.6%. In addition to Scott C Morrison, 11 other BLL executives reported Sell trades in the last month.
SEC Issues Multiple Whistleblower Awards Totaling Nearly $3 Million (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission today announced whistleblower awards to five individuals for information provided in three different enforcement actions for combined payments of nearly $3 million. In the first order, the SEC awarded the whistleblower nearly $1.8 million. The whistleblower, a company insider, provided information that would have been difficult to detect in the absence of the tip and provided extraordinary assistance to SEC staff resulting in the return of money to investors.
