Hedge Funds Tell UK Court that Argentina Manipulated Economic Data (Reuters)
Four hedge funds that are suing Argentina over payments they claim are due on instruments linked to the country’s GDP told a London judge on Monday the country had a “propensity” to manipulate economic data to save billions of dollars. The funds, Palladian Partners L.P., HBK Master Fund L.P., Hirsh Group LLC and Virtual Emerald International Limited, filed suit in 2019, claiming the South American republic owed them payments under euro-denominated securities linked to Argentina’s gross domestic product in 2013.
Another Cathie Wood Fund Exits Sea After $175 Billion Selloff (Bloomberg)
Funds managed by Cathie Wood are exiting the beleaguered Southeast Asian e-commerce giant Sea Ltd. one by one. Ark Next Generation Internet ETF on Thursday sold its last few shares in Sea, almost a quarter after flagship Ark Innovation ETF exited from the company in June, according to Ark trading data compiled by Bloomberg.
Aristides Capital Moves to Downtown Louisville Office (BizJournals)
A hedge fund is relocating its offices to Downtown Louisville. Aristides Capital LLC is moving into an office at 118 E. Main St. across from Humana Waterside Building. The company is a registered investment advisor that manages two hedge funds. It was launched in 2008 by Christopher Brown, originally opening an office in Toledo, Ohio, and eventually moved to Seattle, prior to coming to Louisville. Aristides Capital has between $150 million and $200 million in assets. While it still has the Toledo operation, Ashley Overstreet, investment operations and client relations associate with Aristides Capital, said its main office will be in Louisville.
Winners of Hedgeweek US Awards Announced (Hedge Week)
The winners of the annual Hedgeweek US Awards, which recognise excellence among fund managers and service providers in the US across a wide range of categories, have been announced. Voting for the awards, which were presented at an exclusive ceremony and networking event today (27 October), at the University Club of New York, was conducted via an online poll of the entire Hedgeweek userbase, with participants asked to make their choice among the shortlisted firms in each category. The manager categories cover a wide spectrum of investment strategies and fund types encompassing the hedge fund, multi-manager, emerging manager and liquid alternatives universes. The service provider categories span all the key areas of the broader hedge fund industry ecosystem.
Friday 10/28 Insider Buying Report: DX, WDFC (Nasdaq.com)
On Wednesday, Dynex Capital’s CEO and Co-CIO, Byron L. Boston, made a $160,023 purchase of DX, buying 14,500 shares at a cost of $11.04 a piece. So far Boston is in the green, up about 9.1% on their purchase based on today’s trading high of $12.04. Dynex Capital is trading up about 3.2% on the day Friday. Before this latest buy, Boston bought DX at 5 other times during the past twelve months, for a total investment of $382,365 at an average of $15.76 per share. And at WD-40, there was insider buying on Wednesday, by CEO Steven A. Brass who purchased 632 shares for a cost of $158.16 each, for a total investment of $99,957. WD-40 is trading up about 1.6% on the day Friday. Brass was up about 1.0% on the buy at the high point of today’s trading session, with WDFC trading as high as $159.72 in trading on Friday.
Adobe EVP Sold $865K In Company Stock (Benzinga)
Scott Belsky, EVP at Adobe (ADBE) reported a large insider sell on October 26, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Belsky sold 2,711 shares of Adobe. The total transaction amounted to $865,134.
