Thursday, 2 October 2014
Last updated 16 min ago
Feb 4 2013 | 1:54pm ET
Tiger Global Management has sold off its stake in a major firearms manufacturer in the wake of December's killing of 20 children at a Connecticut elementary school.
The hedge fund owned a 4.2% stake in Sturm, Ruger & Co. as of Sept. 30, but has since sold off the position. New York-based Tiger Global said it will no longer invest in gun stocks, Forbes reports.
It's unclear precisely when Tiger bought and sold the 800,000 Ruger shares, so it is unclear whether the hedge fund made or lost money on the trade. Ruger shares traded between $40.15 and $49.49 during the third quarter, and between $40.60 and almost $50 following the Newtown, Conn., shooting.
Tiger Global has been one of the most successful hedge funds in recent years. The firm did not say why it sold the shares; Tiger Global tends to avoid the spotlight, and some major public pension funds have threatened to divest from managers that own gun companies.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...