A billion dollar company now purchases $1 million in GameStop stock, or a total of 40,262 shares, according to the latest report.
Algert Global LLC has recently acquired a new position in GameStop Corp. (NYSE:GME) during the second quarter, according to its latest filing with the Securities and Exchange Commission (SEC).
The institutional investor purchased 40,626 shares of GameStop, valued at approximately $1,003,000.
Other institutional investors and hedge funds have also made adjustments to their stakes in GameStop.
Cubist Systematic Strategies LLC bought a new position in the company during the second quarter, valued at around $9,577,000.
Renaissance Technologies LLC increased its holdings in GameStop by 34.0%, now owning 1,347,136 shares worth $33,261,000 after acquiring an additional 342,178 shares.
Van ECK Associates Corp raised its stake by 14.2%, bringing its total to 1,689,052 shares valued at $41,702,000 after purchasing an additional 209,861 shares.
Vanguard Group Inc. grew its position by 0.7% in the fourth quarter, now holding 25,450,256 shares valued at $446,143,000 after an additional purchase of 167,145 shares.
Additionally, Tidal Investments LLC significantly increased its stake by 659.6% in the first quarter, now owning 139,723 shares valued at $1,749,000 after acquiring 121,328 more shares.
Overall, institutional investors hold approximately 29.21% of GameStop’s stock.
In related news, GameStop Director Lawrence Cheng purchased 4,140 shares on July 8 at an average price of $24.85 per share, totaling $102,879.
Following this transaction, he now holds 69,228 shares valued at about $1,720,315.80, reflecting no change in his ownership percentage.
This transaction was filed with the SEC.
Additionally, insider Daniel William Moore sold 1,972 shares of GameStop on October 2 at an average price of $21.96, totaling $43,305.12.
After this sale, he retains 37,280 shares valued at $818,668.80, representing a slight decrease in his ownership percentage.
This sale was also disclosed in an SEC filing.
Overall, company insiders own 12.28% of GameStop’s stock, per Market Beat.
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Also Read: NYSE Is Now Reporting A GameStop Price Glitch
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TD Bank now gets caught with illegal market manipulation and has agreed to pay over $20 million under a deal with the SEC.
Investors are calling it ‘pay to play’.
The U.S. broker-dealer unit of Toronto Dominion Bank (TD Securities USA) has agreed to pay more than $20 million to resolve allegations of manipulating the U.S. Treasuries market.
This settlement comes as part of an agreement with U.S. authorities, concluding a lengthy investigation, per Reuters.
In a court filing on Monday, TD Securities admitted to engaging in spoofing practices within the U.S. Treasuries market as part of a deal with the U.S. Justice Department.
The firm also settled related civil charges with the Securities and Exchange Commission (SEC).
Additionally, the bank faced charges for not properly supervising its former head of the U.S. Treasuries trading desk.
From April 2018 to May 2019, a former employee manipulated the U.S. Treasury cash securities market by placing orders he had no intention of executing, a tactic known as “spoofing.”
This practice aims to create a misleading impression of market demand.
U.S. regulators have taken a strong stance against spoofing, which is designed to distort market activity.
However, the criminal bank has now been let go off what investors deem as ‘easily’.
Under the terms of TD’s agreement, the Justice Department will refrain from prosecuting the firm as long as it adheres to the three-year agreement and implements significant compliance improvements.
The DOJ decided not to appoint a third-party monitor for compliance, based on the company’s efforts to address the issues.
As part of the settlement, TD Securities will pay a $12.5 million criminal penalty related to civil investigations by the SEC and the Financial Industry Regulatory Authority (FINRA).
This amount is in addition to an approximately $9.5 million criminal penalty outlined in the agreement.
The bank will also compensate victims with $4.7 million and forfeit $1.4 million.
This settlement comes at a time when the Canadian bank is reportedly on the verge of pleading guilty to separate charges concerning its U.S. retail bank’s alleged failure to prevent money laundering linked to Chinese crime groups and illegal fentanyl sales, as reported by the Wall Street Journal last week.
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Also Read: TD Bank Customers Now Say They Cannot Access Their Money
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