Copy What Works (Hedge Nordic)
Stockholm (HedgeNordic) – After the successful launch of its multiple-award-winning Formue Nord Markedsneutral, Danish asset manager Formue Nord launched a sister fund employing a similar strategy in the second half of 2018. Formue Nord Fokus, which employs a similar strategy of focusing on special situations and financing small- and midcap companies, has now joined the Nordic Hedge Index. According to Chris Albertsen, part of the five-member team at Formue Nord, the strategies of “both Formue Nord Markedsneutral and Formue Nord Fokus revolve around special situations and financing small- and midcap companies.” Both vehicles maintain beta-neutral portfolios at all times through the use of equity index futures or other derivatives. The main difference between the two funds, however, involves the time horizon for the financing solutions offered by these funds to companies in need of capital.
Tuesday 5/5 Insider Buying Report: UNVR, CFR (Nasdaq.com)
At Univar Solutions, a filing with the SEC revealed that on Monday, EVP, CFO Nicholas W. Alexos bought 250,000 shares of UNVR, at a cost of $13.33 each, for a total investment of $3.33M. Alexos was up about 8.6% on the purchase at the high point of today’s trading session, with UNVR trading as high as $14.48 in trading on Tuesday. Univar Solutions is trading up about 5.1% on the day Tuesday. This purchase marks the first one filed by Alexos in the past twelve months. And at Cullen/Frost Bankers, there was insider buying on Friday, by Director Graham M. Weston who purchased 29,400 shares at a cost of $68.00 each, for a total investment of $2M. Cullen/Frost Bankers is trading up about 3.4% on the day Tuesday. So far Weston is in the green, up about 3.4% on their buy based on today’s trading high of $70.31.
The EVP – Growth Initiatives of Ecolab (NYSE: ECL) is Selling Shares (Analyst Ratings)
Yesterday, the EVP – Growth Initiatives of Ecolab (ECL), Roberto Inchaustegui, sold shares of ECL for $464.4K. Following Roberto Inchaustegui’s last ECL Sell transaction on March 05, 2019, the stock climbed by 21.6%. In addition to Roberto Inchaustegui, 2 other ECL executives reported Sell trades in the last month.
Annaly Capital Management Inc (NLY) CEO and CIO David L Finkelstein Bought $603,000 of Shares (Guru Focus)
CEO and CIO of Annaly Capital Management Inc., David L Finkelstein, bought 100,000 shares of NLY on 05/04/2020 at an average price of $6.03 a share. The total cost of this purchase was $603,000. Annaly Capital Management Inc is a part of the real estate sector. As a mortgage real estate investment trust, it owns a portfolio of real estate related investments, including mortgage pass-through certificates and collateralized mortgage obligations. Annaly Capital Management Inc has a market cap of $8.75 billion; its shares were traded at around $6.12 . The dividend yield of Annaly Capital Management Inc stocks is 16.34%.
Swedish Real Estate CEO Detained on Insider Trading Allegations (Bloomberg Law)
The founder and chief executive of one of Sweden’s biggest real estate companies has been detained in custody amid allegations he was a party to insider trading. Samhällsbyggnadsbolaget i Norden, a Stockholm-based property company worth more than $2.3 billion, said on Tuesday that its CEO, Ilija Batljan, was being held by police amid concerns he’d violated the Sweden’s Market Abuse Regulation. The news sent shares in the company, dubbed SBB locally, plunging as much as 42%. SBB stands out as a prolific issuer of debt in recent years, with the equivalent of $4.7…
CFTC Awards More Than $2 Million to Four Whistleblowers (HedgeCo.net)
(HedgeCo.Net) The Commodity Futures Trading Commission has announced a whistleblower award exceeding $2 million to be shared among four whistleblowers. The CFTC granted the whistleblowers’ award applications for both a CFTC action and related actions brought by another regulator. In issuing the award, the CFTC recognized the contributions of the whistleblowers, who jointly submitted a tip to the CFTC. Each of the whistleblowers also individually provided significant, ongoing assistance to the CFTC’s Division of Enforcement. “In many instances, whistleblowers are in the best position to identify suspicious conduct,” said CFTC Director of Enforcement James McDonald. “That’s precisely what happened in this case. After witnessing unusual activity, the whistleblowers worked together to quickly submit a joint tip with sufficient detail that drew our attention to the potential violations.”
