Hedge Fund That Went Long the VIX in January Is Up 39% This Year (Bloomberg)
(Bloomberg) — All it took for Formidable Asset Management LLC to beat the market in the first half was to get the effect of the coronavirus right. As a result, Formidable’s fund climbed 38.8% this year, gross of fees, beating most peers and significantly outperforming the broader market. The Formidable fund, which correctly bet on what Covid-19 would bring, went long on VIX options in mid-January, reduced some equity exposure and bought put options on Nasdaq derivatives in early February, according to a letter seen by Bloomberg. The VIX, which measures expected levels of volatility on the S&P 500 Index, spiked above 82 in mid-March from less than 14 a month prior.
Salesforce.com Inc (CRM) Chair of the Board & CEO Marc Benioff Sold $4.4 million of Shares (Guru Focus)
Chair of the Board & CEO of Salesforce.com Inc., Marc Benioff, sold 25,000 shares of CRM on 06/15/2020 at an average price of $175.59 a share. The total sale was $4.4 million. Salesforce.com Inc is a software-as-a-service company that provides enterprise cloud computing solutions, offering social and mobile cloud apps and platform services, as well as professional services to facilitate the adoption of its solutions.
Tuesday 6/16 Insider Buying Report: WD, MRLN (Nasdaq.com)
At Walker & Dunlop, a filing with the SEC revealed that on Thursday, Director Michael D. Malone bought 10,000 shares of WD, for a cost of $47.82 each, for a total investment of $478,170. So far Malone is in the green, up about 10.9% on their purchase based on today’s trading high of $53.03. Walker & Dunlop is trading up about 5.5% on the day Tuesday. This buy marks the first one filed by Malone in the past twelve months. And also on Thursday, Director Lawrence J. Deangelo purchased $439,945 worth of Marlin Business Services, purchasing 52,595 shares at a cost of $8.36 each. This purchase marks the first one filed by Deangelo in the past year. Marlin Business Services is trading up about 11% on the day Tuesday. Deangelo was up about 7.0% on the purchase at the high point of today’s trading session, with MRLN trading as high as $8.95 at last check today.
A Director at Puma Biotechnology (NASDAQ: PBYI) is Selling Shares (Analyst Ratings)
Today, a Director at Puma Biotechnology (PBYI), Troy Edward Wilson, sold shares of PBYI for $251.7K. In addition to Troy Edward Wilson, 3 other PBYI executives reported Sell trades in the last month. The company has a one-year high of $15.00 and a one-year low of $5.50. Currently, Puma Biotechnology has an average volume of 995.90K.
UAE Bans Insider Trading in Capital Markets from Today (Khaleej Times)
The insider trading at public shareholding companies listed in the UAE capital markets takes effect on June 16 (Tuesday), in compliance with the applicable regulations and rules issued by the Securities and Commodities Authority. The Abu Dhabi Securities Exchange and Dubai Financial Market have called on listed shareholding companies and brokerage companies to implement the ban until the announcement of the financial statements for the second quarter of 2020.
