HFRI 500 Macro Index Gains +13% in 1H22 as Commodities, Risk Mitigation and CTAs Surge (Opalesque.com)
Opalesque Industry Update – Led by gains in Macro, CTA, Risk Mitigation and Commodity strategies, the HFRI 500 Macro Index gained +13.2 percent in the 1H 2022, topping the decline of the S&P 500 by 3300 bps and the Nasdaq Composite Index by nearly 4400 bps as US equity markets experienced the worst 1H of a calendar year in over 50 years. Negatively correlated Macro gains offset weakness in directional and higher beta strategies, bringing the performance of the HFRI 500 Fund Weighted Composite Index to a decline of -4.1 percent in 1H22, with both Macro and the overall Composite exhibiting the highest outperformance versus equity market declines in a first half of a year since inception (1990).
New Relic to Explore Sale Options Amid Takeover Interest – Sources (Reuters)
July 20 (Reuters) – New Relic Inc (NEWR.N), the U.S. business software company targeted by activist hedge fund Jana Partners, is preparing to explore a potential sale following interest from private equity firms, sources familiar with the matter told Reuters. New Relic is in talks to hire financial advisers to explore options that would include a sale, the sources said, cautioning that no deal is certain. The sources requested anonymity because the matter is confidential.
US Authorities Arrest Former Coinbase Manager, Alleging Insider Crypto Trading (Coin Telegraph)
United States authorities have brought charges against three people for wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading using crypto, one of whom was a former product manager at Coinbase Global. In a Thursday announcement, the U.S. Attorney’s Office for the Southern District of New York said in conjunction with the New York Field Office of the Federal Bureau of Investigation it had filed an indictment against former Coinbase Global product manager Ishan Wahi as well as his brother Nikhil Wahi and associate Sameer Ramani.
Warren Buffett’s Berkshire Hathaway has Piled Nearly $10 Billion into Occidental Petroleum this Year – and Built 75% of Its Stake in Only 11 Days (Business Insider)
Warren Buffett‘s Berkshire Hathaway has plowed nearly $10 billion into Occidental Petroleum stock over the course of just 29 trading days this year, a Markets Insider analysis of SEC filings and Buffett’s comments shows. The famed investor’s conglomerate has amassed 182 million Occidental shares so far, giving it a nearly 20% stake in the oil-and-gas company as of July 18. The price range stretched from under $48 a share to over $59, and the weighted average cost was around $53, or about 17% below Occidental’s closing stock price of $63.55 on Wednesday.
Accenture And 3 Other Stocks Insiders Are Selling (Benzinga)
Accenture: The Trade: Accenture plc (ACN) Chief Executive – Europe Jean-Marc Ollagnier sold a total of 6,250 shares at an average price of $270.93. The insider received around $1.69 million from selling those shares. Eli Lilly and Company: The Trade: Eli Lilly and Company (LLY) 10% owner Lilly Endowment Inc sold a total of 17,310 shares at an average price of $332.76. The insider received around $5.76 million from selling those shares.
Insider Buying: Tricida, Inc. (NASDAQ:TCDA) Major Shareholder Purchases 25,000 Shares of Stock (The AM Reporter)
Tricida, Inc. (NASDAQ:TCDA) major shareholder Venrock Healthcare Capital Par purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were acquired at an average cost of $9.54 per share, with a total value of $238,500.00. Following the purchase, the insider now directly owns 7,464,852 shares of the company’s stock, valued at approximately $71,214,688.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
