Trading ‘BOON’ Pickens: Oil Tycoon’s Spinoff Fund Seeks Listing (Bloomberg)
Legendary oil tycoon T. Boone Pickens has closed his hedge fund, but the octogenarian’s name may live on on the New York Stock Exchange. NYSE Pickens Oil Response ETF, a spinoff of the wildcatter’s shuttered Dallas-based BP Capital LLC, submitted a prospectus to the New York Stock Exchange that would use the ticker “BOON.” The equity index fund will include energy explorers and producers, oil-services companies, refiners and renewables companies that are closely correlated to the Brent crude oil price.
Big Short’s Eisman Says U.S. Bank Outlook Is Best Since 1990s (Bloomberg)
Steve Eisman, the Neuberger Berman Group fund manager who featured in Michael Lewis’s book “The Big Short,” is bullish on U.S. banks. “I have not been this positive on banks since the 1990s,” Eisman said in an interview with Bloomberg Television, citing higher interest rates and deregulation. The money manager, who famously predicted the collapse of subprime mortgages before the financial crisis, doesn’t see systemic risks at present.
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Howard Hughes Corp. Thrives as Ackman Trims His Holdings (The Wall Street Journal)
Howard Hughes Corp., the master-planned community developer chaired by hedge-fund manager William Ackman, reported strong earnings this week thanks partly to rising prices for developed land in the Houston and Las Vegas regions. The report was Howard Hughes’s first earnings release since Mr. Ackman surprised Wall Street in January by announcing plans to reduce the stake in the Dallas-based company held by his Pershing Square funds to 17.6% from about 23%.
Hedge Funds Gain Another Avenue to Bet Against Bitcoin (CNBC)
As institutional demand grows for cryptocurrencies, Genesis Global Trading is launching a digital currency lending business called Genesis Capital to enable investors to borrow bitcoin, ether and others for a fixed amount of time. One of the uses will be for investors who want to bet against bitcoin without taking on a lot of risk. “This will be the first time that institutional investors will get the opportunity to really borrow and hedge or short the digital currency spot market in size,” Genesis Capital CEO Michael Moro told CNBC.
Insider Selling: ImmunoGen, Inc. (IMGN) Director Sells 25,000 Shares of Stock (LedgerGazette.com)
ImmunoGen, Inc. (NASDAQ:IMGN) Director Daniel M. Junius sold 25,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $11.68, for a total transaction of $292,000.00. Following the transaction, the director now owns 196,700 shares in the company, valued at approximately $2,297,456. The transaction was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Motus GI Holdings Inc (NASDAQ:MOTS) Director Acquires 50,000 Shares of Stock (StockNewsTimes.com)
Motus GI Holdings Inc (NASDAQ:MOTS) Director Gary J. Pruden bought 50,000 shares of the stock in a transaction on Friday, February 16th. The shares were bought at an average price of $5.00 per share, for a total transaction of $250,000.00. The purchase was disclosed in a document filed with the SEC.
Insider Buying: VerifyMe Inc (VRME) Director Acquires 84,000 Shares of Stock (WeekHerald.com)
VerifyMe Inc (OTCMKTS:VRME) Director Laurence J. Blickman acquired 84,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $0.25 per share, for a total transaction of $21,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Insider Buying: Oaktree Strategic Income Co. (OCSI) Major Shareholder Buys 47,400 Shares of Stock (DispatchTribunal.com)
Oaktree Strategic Income Co. (NASDAQ:OCSI) major shareholder Oaktree Capital Management Lp bought 47,400 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average price of $7.72 per share, with a total value of $365,928.00. The purchase was disclosed in a document filed with the SEC.
Insider Selling: Associated Banc Corp (ASB) Insider Sells 10,000 Shares of Stock (LedgerGazette.com)
Associated Banc Corp (NYSE:ASB) insider Timothy J. Lau sold 10,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $24.01, for a total transaction of $240,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Insider Selling: First Foundation Inc (FFWM) Chairman Sells 10,000 Shares of Stock (DispatchTribunal.com)
First Foundation Inc (NASDAQ:FFWM) Chairman Ulrich E. Keller, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $18.66, for a total value of $186,600.00. Following the transaction, the chairman now directly owns 20,000 shares in the company, valued at approximately $373,200. The sale was disclosed in a filing with the SEC.
