Cathie Wood & Ark: Insiders Aren’t Buying The Hype (MenaFN.com)
(MENAFN- DailyFX) After 12 years as chief investment officer of global thematic strategies at investment giant AllianceBernstein, Cathie Wood founded ARK (Active Research Knowledge) Funds in 2014. Its thematic investment funds target disruptive and innovative high-growth companies, the technological forces altering economies and consumer behavior.
All-America Research Providers – Hedge Fund Cut (Institutional Investor)
Overview: As the hedge fund industry has grown, so have managers’ demands on equity research providers. “Over the last decade, the skew of demands on our department has meant that our time spent with hedge funds has consistently grown,” said David Adelman, director of equity research for the Americas at Morgan Stanley. “It has grown before, through and post-Covid.”
World’s Biggest Hedge Fund Is Betting $9.5B Against These Stocks (TipRanks)
So far in 2022, the S&P 500 index (SPX) has dropped 21.5% and the Dow Jones Industrial Average (DJIA) is down 16.5%. Although the markets are just entering bear territory, the latest moves by one of the biggest names on Wall Street, Ray Dalio, may indicate the correction may extend further. With nearly 26 short positions, Dalio’s Bridgewater Associates has now become the largest short position holder on European stocks. Bridgewater has upped its total shorts by nearly 5 times, to around $9.5 billion.
Wednesday 6/22 Insider Buying Report: OKE, BLFY (Nasdaq.com)
On Friday, ONEOK’s CEO, Pierce Norton, made a $498,462 buy of OKE, purchasing 8,975 shares at a cost of $55.54 each. Investors can bag OKE at a price even lower than Norton did, with the stock changing hands as low as $52.72 at last check today — that’s 5.1% under Norton’s purchase price. ONEOK is trading down about 3.9% on the day Wednesday. This purchase marks the first one filed by Norton in the past year. And also on Friday, Director Kenneth Grimbilas purchased $200,485 worth of Blue Foundry Bancorp, purchasing 17,065 shares at a cost of $11.75 a piece. This purchase marks the first one filed by Grimbilas in the past twelve months. Blue Foundry Bancorp is trading off about 0.3% on the day Wednesday. Grimbilas was up about 3.2% on the buy at the high point of today’s trading session, with BLFY trading as high as $12.12 at last check today.
Cluster Of Insiders Purchase Carvana, An E-commerce Platform For Buying And Selling Used Cars – Big Insider Trades (Benzinga)
1. Carvana Co. (CVNA) $24.27: Shares of this e-commerce platform for buying and selling used cars were acquired by 4 insiders: 10% Owner Ernest C. Garcia acquired 1,985,258 shares, paying $21.18 per share for a total amount of $42.05 million. These shares were purchased indirectly by Verde Investments, Inc. Chief Product Officer Daniel J. Gill acquired 94,000 shares, paying $21.77 per share for a total amount of $2.05 million. Mr. Gill increased his stake by 253.90% to 131,023 shares with this purchase.
Former Rite Aid Compliance Exec Fined $305K Over Insider Trading Case (Compliance Week)
A former Rite Aid compliance executive agreed to pay a civil penalty of $305,129 to settle insider trading charges regarding sale of company stock. The U.S. District Court for the Middle District of Pennsylvania entered final judgment Friday against Steven Sheinfeld, who served as vice president of internal assurance services at Rite Aid until departing the company in April 2017. Sheinfeld, who was charged by the Securities and Exchange Commission (SEC) in September 2020, agreed to pay his fine in three installments without admitting or denying the allegations and waived any right to an appeal.
Britain’s FCA Seeks Retrial of Insider Trading Case (Reuters)
June 22 (Reuters) – Britain’s Financial Conduct Authority (FCA) said on Wednesday it would seek a retrial of two individuals accused of insider dealing, weeks after a court in London was unable to reach a verdict. Stuart Bayes, a former general manager at RPC Group, and Jonathan Swann, a tenancy support officer, were accused of trading shares of British Polythene Industries (BPI) between May 2, 2016 and June 10, 2016, ahead of an announcement that RPC Group would buy BPI.
