$5 billion Hedge Fund LMR Partners Poached Bank of America Merrill Lynch’s Top Equity Derivatives Boss in the US (Business Insider)
Bank of America Merrill Lynch’s top equity derivatives boss in the Americas is leaving after less than two years, and he’s headed for the hedge fund LMR Partners. After an eight-year run with Barclays, William “Bill” Hillegass joined BAML in 2017, heading up equity client solutions and running equity derivatives out of New York. He quit the firm, Business Insider reported this week, and he’s joining LMR Partners, a multistrategy fund founded and run by the former UBS traders Ben Levine and Stefan Renold, according to people familiar with the matter.
Hedge Funds Predicted the Market’s Rebound in Early 2019 (Barron’s)
Despite the market taking a tumble in the fourth quarter, hedge-fund managers stuck with their favorite names. They also anticipated the early 2019 rebound, tilting tilted back to cyclical sectors last quarter after flocking to safety in the previous three months. Within 45 days of the end of each quarter, hedge funds must report their portfolios’ holdings to the Securities and Exchange Commission. In a study published Friday morning, a team of Goldman Sachs analysts drew on those reports to assess the holdings of 880 hedge funds that managed $2.1 trillion as the fourth quarter began.
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Here’s What Stocks Warren Buffet’s Hedge Fund is Investing In (CNBC)
CNBC’s Leslie Picker reports on Warren Buffet‘s hedge fund Berkshire Hathaway‘s latest filing with the SEC, which has some details that have surprised market participants.
SS&C Appoints Head of Hedge Fund Administration Business (HedgeWeek)
SS&C Technologies Holdings has appointed Joseph Maxwell as Technology Head of SS&C GlobeOp’s Hedge Fund Administration group. Maxwell recently joined SS&C and is based at the company’s 4 Times Square office. He will be responsible for driving SS&C’s technology solution strategy, further strengthening the company’s leadership position in hedge fund technology and fund administration.
Magellan Health to Explore Sale After Pressure from Prominent Hedge Fund (BeckersHospitalReview)
After coming under pressure from activist hedge fund Starboard Value, U.S. health plan and pharmacy benefit manager Magellan Health will explore selling itself, according to Reuters. Magellan is looking for ways to boost its value. Since April 2018, its shares have dropped nearly 40 percent. In response, the company intends to start a multiyear improvement plan to shore up finances. People familiar with the plan say Magellan is considering being acquired by other companies. Starboard has a 9.8 percent stake in the company.
Largest Insider Trades of the Week (GuruFocus)
The GuruFocus All-in-One Screener can be used to find insider trades from the past week. Under the Insiders tab, change the settings for All Insider Buying to “$200,000+,” the duration to “February 2019” and All Insider Sales to “$5,000,000+.” According to these filters, the following are trades from company insiders this week. Part owners MPM BioVentures 2014 L.P., the Oncology Impact Fund (Cayman), Upnorth Investment Ltd and directors Morana Jovan-Embiricos and Ansbert Gadicke, bought a combined 4,319,999 shares of TCR2 Therapeutics Inc. (TCRR) for an average price of $15 per share on Feb. 19.
Friday 2/22 Insider Buying Report: NVR, ELMD (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. At NVR (NVR), a filing with the SEC revealed that on Tuesday, VP, Chief Accounting Officer Matthew B. Kelpy bought 25 shares of NVR, at a cost of $2668.58 each, for a total investment of $66,714. NVR is trading up about 1.1% on the day Friday.
A Director at Popular Inc (NASDAQ: BPOP) is Selling Shares (AnalystRatings)
Today, a Director at Popular Inc (BPOP), Maria Luisa Ferre, sold shares of BPOP for $171.9K. Following Maria Luisa Ferre’s last BPOP Sell transaction on November 06, 2015, the stock climbed by 28.5%. In addition to Maria Luisa Ferre, 2 other BPOP executives reported Sell trades in the last month.
T. Rowe Price Group Inc (NASDAQ:TROW) Insider Trading Activity – VP Sold 104,465 shares of Stock (Market Exclusive)
Insider Trading Activity For T. Rowe Price Group Inc (NASDAQ:TROW): Christopher D Alderson , VP of T. Rowe Price Group Inc (NASDAQ:TROW) reportedly Sold 104,465 shares of the company’s stock at an average price of 96.94 for a total transaction amount of $10,126,837.10.
Saba Capital Management, L.P. Buys Invesco Dynamic Credit Opportunities Fund, Nuveen Credit Strategies Income Fund, Invesco Senior Income Trust, Sells iShares 7-10 Year Treasury Bond ETF, Seadrill, Aberdeen Total Dynamic Dividend Fund (GuruFocus)
New York, NY, based Investment company Saba Capital Management, L.P. buys Invesco Dynamic Credit Opportunities Fund, Nuveen Credit Strategies Income Fund, Invesco Senior Income Trust, Qualcomm Inc, First Trust High Income Long/Short Fund, Eaton Vance Duration Income Fund, Western Asset Global High Inc Fd Inc, Texas Instruments Inc, Western Asset High Income Fund II Inc, Nuveen NY AMT-Free Muni Income Fund, BlackRock MuniHoldings New Jersey Quality Fund Inc, PGIM Short Duration High Yield Fund Inc and a lot more during the 3-months ended 2018Q4, according to the most recent filings of the investment company, Saba Capital Management, L.P.. As of 2018Q4, Saba Capital Management, L.P. owns 163 stocks with a total value of $2.8 billion. These are the details of the buys and sells.
