Hedge Funds Posted a 2.42 per cent Loss in January But Outperformed Volatile Markets (Hedge Week)
Losses abounded in January, but the hedge fund industry largely shielded its investors from the worst. Hedge funds in aggregate were down 2.42 per cent on the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. January was pretty wretched for broad equity indices, and particularly for technology-focused shares. The S&P 500 Total Return Index was battered by a -5.17 per cent loss and the Nasdaq Composite Index bled -9 per cent.
Stanley Druckenmiller Got Bullish on Chevron. Should You Be? (Barron’s)
Stanley Druckenmiller bought Chevron stock now worth over $100 million in the fourth quarter, his largest new purchase during the quarter, new securities filings show. The famed hedge fund manager, who now operates a family office, sold his Meta Platforms (ticker: FB) stock during the quarter, a move that proved to be prescient.
Ray Dalio’s Hedge Fund Trimmed Tesla Stake In Q4 And Loaded Up More Shares In This Chinese Rival (Benzinga)
Bridgewater Associates, led by billionaire Ray Dalio, trimmed stake in Tesla Inc (TSLA) in the fourth quarter when shares of the electric vehicle maker soared and the world’s largest hedge fund significantly raised its exposure in the U.S- listed Chinese electric vehicle maker Nio Inc (NIO) during the period, regulatory filings show.
Bill Ackman Has a New Investment. And He’s Still Working on That SPAC. (Institutional Investor)
Bill Ackman’s Pershing Square Capital is coming off of a big year — and 2022 looks to be another doozy. Investors can expect to learn about a new investment along with a decision on both Pershing Square’s beleaguered special purpose acquisition company and a new instrument Ackman has designed as an alternative to a SPAC, which is awaiting approval by the Securities and Exchange Commission.
Tuesday 2/15 Insider Buying Report: RSVR, CVS (Nasdaq.com)
On Friday, Reservoir Media’s Director, Adam Rothstein, made a $271,637 buy of RSVR, purchasing 41,345 shares at a cost of $6.57 each. So far Rothstein is in the green, up about 14.8% on their purchase based on today’s trading high of $7.54. Reservoir Media is trading up about 5.7% on the day Tuesday. Before this latest buy, Rothstein made one other buy in the past year, purchasing $132,770 shares for a cost of $7.81 each. And on Thursday, Director Edward J. Ludwig bought $105,904 worth of CVS Health, buying 1,000 shares at a cost of $105.90 a piece. Before this latest buy, Ludwig purchased CVS on 2 other occasions during the past year, for a total investment of $454,635 at an average of $75.77 per share. CVS Health is trading up about 0.9% on the day Tuesday. Bargain hunters can buy CVS at a price even lower than Ludwig did, with shares changing hands as low as $103.68 at last check today which is 2.1% below Ludwig’s purchase price.
Moderna CEO Sells Shares, Deletes Social Media: What You Need To Know (Benzinga)
Moderna Inc (MRNA) shares are down more than 40% since the start of the year and continue to trend lower Monday. Vaccine stocks are facing selling pressure as the COVID-19 omicron variant fades, but Moderna investors have been expressing concerns about recent stock sales from Moderna CEO Stéphane Bancel, as well as the presumed deletion of his Twitter account. CNBC reporter Meg Tirrell said she reached out to Bancel Monday and received responses to some of the questions circlulating on social media about him.
