Hedge Funds Say It’s Too Risky to Short Dollar on US Rates Hazard (Bloomberg)
The dollar’s recent strength has confounded naysayers, and according to some hedge funds, the rally isn’t over. K2 Asset Management says the greenback will continue to charge higher as US interest rates remain elevated while AVM Capital expects rising Treasury yields to boost the currency. Alternative asset manager Clocktower Group sees further gains for the dollar if China’s stimulus continues to disappoint.
A Top Brevan Howard Exec Responsible for Luring Investment Talent is Leaving the $35 Billion Macro Fund (Business Insider)
The senior exec in charge of luring top investment talent to $33 billion Brevan Howard is leaving. Peter Hornick, head of business development at the fund, is departing amid a corporate reorg, according to people familiar with the matter. He joined in 2020 after nearly two years in a similar role at ExodusPoint. He was also the global head of business development at Izzy Englander‘s Millennium Management for five years.
Elanco Animal Health Stock Sells Off as Hedge Funds Reduce Holdings (ClaytonCountyRegister)
Natixis Advisors L.P. has sold 30.3% of its shares in Elanco Animal Health Incorporated (NYSE:ELAN), according to a recent filing with the Securities and Exchange Commission (SEC). The hedge fund now owns 94,594 shares of the company’s stock, down from 135,807 shares. Other institutional investors, including ING Groep NV, ASB Consultores LLC, Franklin Resources Inc., Mitsubishi UFJ Trust & Banking Corp, and Treasurer of the State of North Carolina, have also reduced their holdings in Elanco Animal Health.
Wednesday 9/6 Insider Buying Report: ET, INGR (Nasdaq.com)
On Friday, Energy Transfer’s Co-CEO, Marshall S. McCrea III, made a $682,000 purchase of ET, buying 50,000 shares at a cost of $13.64 each. McCrea III was up about 1.2% on the buy at the high point of today’s trading session, with ET trading as high as $13.81 at last check today. Energy Transfer is trading down about 0.5% on the day Wednesday. This buy marks the first one filed by McCrea III in the past year. And on Tuesday, SVP, Global Ops and CSCO David Eric Seip purchased $295,500 worth of Ingredion, purchasing 3,000 shares at a cost of $98.50 a piece. Ingredion is trading up about 0.3% on the day Wednesday. So far Seip is in the green, up about 3.0% on their buy based on today’s trading high of $101.44.
Salesforce, Autodesk And 2 Other Stocks Insiders Are Selling (Benzinga)
Autodesk: The Trade: Autodesk, Inc. (ADSK) Director Mary T McDowell sold a total of 4,656 shares at an average price of $222.04. The insider received around $1.03 million from selling those shares. Salesforce: The Trade: Salesforce, Inc. (CRM) Chair and CEO Marc Benioff sold a total of 15,000 shares at an average price of $213.73. The insider received around $3.21 million from selling those shares.
