Activist Fund Executives on Board Bolstered Olympus, CEO Says (Bloomberg)
The involvement of U.S. hedge fund ValueAct Capital Management in Olympus Corp.’s strategy and management is spurring the transformation of the world’s leading maker of endoscopes, Chief Executive Officer Yasuo Takeuchi said, boosting its stock price and profit. Olympus’s shares have more than doubled since ValueAct persuaded Olympus to accept its director nominations in 2019 – a seldom seen victory for activism in Japan.
The Nordic Winners of EuroHedge Awards (Hedge Nordic)
Stockholm (HedgeNordic) – Three Nordic funds have been handed out winning trophies at last week’s awards ceremony of the With Intelligence EuroHedge Awards 2021 in London. Borea Høyrente, OAM Absolute Return Fund and STORM Bond Fund, all based out of Norway, received recognition for strong risk-adjusted performance on 17 March at the JW Marriott Grosvenor House in London.
3 Funds That Could Let You Live On Dividends Alone (Forbes)
A contrarian indicator just flashed, and it’s telling us that now is the time to buy one of my favorite high-yield investments: closed-end funds (CEFs). Today we’re going to look at three yielding an outsized 11.6%. Yield hunters that we are, we know the power of such a payout: with a $520,000 investment, we can kickstart a $60,000-a-year income stream.
Canada the World’s Fifth Largest Hedge Fund Market, Report Finds (Investment Executive)
Canada was home to 2.1% of the world’s hedge funds in 2021, making it the fifth largest market globally, finds a report from U.K.-based SigTech. Most of those funds were based in Toronto, which was home base for 395 or 1.4% of the world’s funds. That makes Toronto the tenth largest city in terms of hedge fund concentration. According to SigTech’s analysis, there are 27,255 active hedge funds globally. The U.S. was by far the largest market in 2021, with 67.2% of funds based there.
Tuesday 3/22 Insider Buying Report: PCT, RVMD (Nasdaq.com)
On Thursday, PureCycle Technologies’ Director, Jeffrey Richard Fieler, made a $5M buy of PCT, purchasing 714,284 shares at a cost of $7.00 each. So far Fieler is in the green, up about 33.3% on their buy based on today’s trading high of $9.33. PureCycle Technologies is trading up about 2.9% on the day Tuesday. This buy marks the first one filed by Fieler in the past twelve months. And on Monday, Director Thilo Schroeder purchased $3.43M worth of Revolution Medicines, purchasing 168,051 shares at a cost of $20.40 a piece. Before this latest buy, Schroeder purchased RVMD at 3 other times during the past year, for a total investment of $34.17M at an average of $24.80 per share. Revolution Medicines is trading up about 11.9% on the day Tuesday. So far Schroeder is in the green, up about 14.2% on their purchase based on today’s trading high of $23.31.
Insiders Sell About $138M Of 5 Stocks (Benzinga)
Eli Lilly and Company: The Trade: Eli Lilly and Company (NYSE: LLY) 10% owner Lilly Endowment Inc sold a total of 220,000 shares at an average price of $283.80. The insider received around $62.44 million from selling those shares. RPC: The Trade: RPC, Inc. (NYSE: RES) 10% owner Rollins Holding Company Inc sold a total of 865,000 shares at an average price of $9.78. The insider received around $8.46 million from selling those shares.
