AMC Soars as Company Sells $230 Million in Stock to Hedge Fund (The Wall Street Journal)
AMC Entertainment Holdings Inc. took advantage of a skyrocketing stock price last week to sell shares to a hedge fund for $230.5 million, it disclosed Tuesday, news that drove its stock higher still. The hedge fund that bought the shares, New York-based Mudrick Capital Management LP, was a winner too. It had paid a premium to Friday’s closing price but promptly turned around and sold for a profit, according to a person familiar with the matter, unloading all 8.5 million shares it received in the deal.
Hedge Funds Getting Bullish on Gold (FX Street)
The gold market has seen many momentum shifts in recent months. At the end of the day, however, the market really depends on one simple factor: Are the big money inflows trending in a bullish or bearish direction? Near market lows, speculative interest tends to be heavily on the short (bearish) side. That sets the stage for buying pressure to be released when rallies force short sellers to cover their positions.
Hedge Fund Assets Soar to Record High Amid Boom in Trading Profits (CNBC)
The pandemic era has been great for hedge funds, which have seen their assets boom to a record amid high hopes for the economy and huge government spending. Total assets for the industry swelled to $4.07 trillion as of the end of March, according to the most recent data from BarclayHedge. Assets under management first topped the $4 trillion mark in February.
Infosys to probe after 2 employees banned by SEBI Over Insider Trading Charges (LiveMint.com)
Infosys on Tuesday said it will initiate an internal investigation into an insider trading matter after markets regulator Sebi barred two of its employees from the securities market in the case. Market regulator Securities and Exchanges Board of India (Sebi) on Tuesday banned Infosys’ senior corporate counsel Pranshu Bhutra and Venkata Subramaniam V. V Senior Principal, Corporate Accounting Group along with six other related entities from accessing capital markets until further orders for insider trading.
Titan Machinery Inc (TITN) Chairman and CEO David Joseph Meyer Sold $12.7 million of Shares (Guru Focus)
Chairman and CEO of Titan Machinery Inc, David Joseph Meyer, sold 400,000 shares of TITN on 06/01/2021 at an average price of $31.67 a share. The total sale was $12.7 million.
The COB of UMH Properties (NYSE: UMH) is Buying Shares (Analyst Ratings)
Today, the COB of UMH Properties (UMH), Eugene Landy, bought shares of UMH for $1.01M. Following Eugene Landy’s last UMH Buy transaction on June 10, 2016, the stock climbed by 13.4%. This recent transaction increases Eugene Landy’s holding in the company by 8.72% to a total of $26.82 million. Based on UMH Properties’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $43.13 million and quarterly net profit of $13.88 million.
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