Billionaire Mike Novogratz’s Galaxy Digital is the 9th Firm to Apply for a Bitcoin ETF (Business Insider)
Galaxy Digital, a crypto asset bank run by billionaire Mike Novogratz, filed for approval to launch a bitcoin exchange-traded fund on Monday, according to a Securities and Exchange Commission filing. The submitted S-1 form is an initial registration filing used by companies that intend to publicly register their securities. Galaxy intends for its ETF to trade on the NYSE Arca, according to the filing. The fund has not yet named an ETF custodian, so it’s likely that amended filings will be submitted in due course. The firm already acts as a sub-advisor to a publicly-traded bitcoin ETF in Canada – the CI Galaxy Bitcoin ETF.
Nomura Tightens Hedge Fund Financing After Archegos Collapse (Bloomberg)
Nomura Holdings Inc. is beginning to tighten financing for some hedge fund clients following the Archegos Capital Management LP fiasco that may cost Japan’s biggest brokerage an estimated $2 billion, according to people familiar with the matter. The restrictions include curbing leverage for some clients previously granted exceptions to margin financing limits, one of the people said, declining to be identified as the details are private. A representative for the Tokyo-based firm declined to comment.
Melvin Capital Needs No Historic Short Squeeze To Lose A Bunch Of Money (Deal Breaker)
The average hedge fund just enjoyed its best start to a year in more than 20, rising 6.1% in the first quarter. Not only is that its best quarterly return since the turn of the century, it even managed what feels like a rarer feat: Beating the broader markets by nipping the S&P 500, which managed only a 5.8% Q1. Of course, that’s just the notional and ultimately imaginary average hedge fund. Other real-world hedge funds had a rather different experience, like this one we all remember so well from the first quarter.
Tuesday 4/13 Insider Buying Report: TPL, CYTH (Nasdaq.com)
On Thursday, Texas Pacific Land’s Director, Murray Stahl, made a $59,581 buy of TPL, purchasing 37 shares at a cost of $1610.29 each. Texas Pacific Land Corp is trading up about 0.9% on the day Tuesday. Before this latest buy, Stahl bought TPL on 60 other occasions during the past twelve months, for a total cost of $2.67M at an average of $1146.34 per share. And at Cyclo Therapeutics, there was insider buying on Monday, by Director Francis Patrick Ostronic who purchased 5,000 shares at a cost of $7.00 each, for a trade totaling $35,000. Before this latest buy, Ostronic made one other purchase in the past year, buying $22,600 shares at a cost of $7.53 each. Cyclo Therapeutics is trading up about 1% on the day Tuesday.
The Chairman of Board of Directors of Zumiez (NASDAQ: ZUMZ) is Selling Shares (Analyst Ratings)
Yesterday, the Chairman of Board of Directors of Zumiez (ZUMZ), Thomas Campion, sold shares of ZUMZ for $8.94M. Following Thomas Campion’s last ZUMZ Sell transaction on September 23, 2019, the stock climbed by 16.2%. In addition to Thomas Campion, 5 other ZUMZ executives reported Sell trades in the last month.
Agilent Technologies Inc (A) CEO and President Michael R. Mcmullen Sold $2 million of Shares (Guru Focus)
CEO and President of Agilent Technologies Inc, Michael R. Mcmullen, sold 15,095 shares of A on 04/08/2021 at an average price of $130.26 a share. The total sale was $2 million. Agilent Technologies Inc is engaged in life sciences, diagnostics and applied chemical markets. The company provides application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow.
