Hedge Funds Need Rate Hikes After Nailing Fed’s Hawkish Pivot (Bloomberg Quint)
(Bloomberg) — The stars are aligned for hedge funds, which have been aggressively selling Treasuries in anticipation of hawkish turns by global central banks. Now they just now need the Federal Reserve to deliver on its rate hike projections. Investors domiciled in the Cayman Islands — a British Overseas Territory used as a base for hedge funds and other leveraged investors — sold almost $54 billion of Treasuries in October, more than four times the largest net sales for any other region. That’s on top of $34 billion of sales the month before, as shown in U.S. Treasury data released Dec. 16.
Friday 12/17 Insider Buying Report: EVBG, ARHS (Nasdaq.com)
At Everbridge, a filing with the SEC revealed that on Tuesday, Director Bruns H. Grayson bought 10,000 shares of EVBG, at a cost of $67.08 each, for a total investment of $670,800. Everbridge is trading up about 7.8% on the day Friday. This buy marks the first one filed by Grayson in the past twelve months. And at Arhaus, there was insider buying on Tuesday, by Chief Financial Officer Dawn Phillipson who bought 50,000 shares for a cost of $11.62 each, for a total investment of $581,000. This buy marks the first one filed by Phillipson in the past year. Arhaus is trading up about 8.5% on the day Friday.
The Shareholder of Altus Strategies (Other OTC: ALTUF) is Buying Shares (Analyst Ratings)
Yesterday, the Shareholder of Altus Strategies (ALTUF), Yousriya Loza-Sawiris, bought shares of ALTUF for $6.93M. This recent transaction increases Yousriya Loza-Sawiris’ holding in the company by 46% to a total of $33.83 million. In addition to Yousriya Loza-Sawiris, 6 other ALTUF executives reported Buy trades in the last month. Currently, Altus Strategies has an average volume of 500. ALTUF’s market cap is $70.39 million and the company has a P/E ratio of -6.88. The company has a one-year high of $1.29 and a one-year low of $0.77.
Saba Capital Income & Opportunities Fund Announces Increase in the Managed Distribution to an Annual Fixed Rate of 12% (BusinessWire)
NEW YORK — (BUSINESS WIRE) — Saba Capital Income & Opportunities Fund (NYSE: BRW) (the “Fund”) today announced that its Board of Trustees has approved an increase in the annual targeted distribution rate under the Fund’s managed distribution plan from 8% to 12%. Accordingly, beginning with the first distribution paid in January 2022, the Fund will make monthly distributions to shareholders at an annual minimum fixed rate of 12.00%, based on the average monthly NAV of the Fund’s common shares. The Fund will calculate the average NAV from the previous month based on the number of business days in that month on which the NAV is calculated.
U.S. Authorities Charge Chicago Doctor with Insider Trading (Reuters)
WASHINGTON, Dec 20 (Reuters) – U.S. authorities have charged a Chicago doctor with insider trading, accusing him of using nonpublic information about drug trial results to reap illicit profits from buying shares of a California-based biotechnology company.
