New York (HedgeCo.Net) – Daniel Och, CEO of New York-based hedge fund Och-Ziff Capital Management, is showing his confidence in his company, racking up another 1.6 million shares.
Och shelled out about $7 million between November 13 and February 2, at prices ranging from $3.89 to $4.98 a share according to the most recent filing with the Securities and Exchange Commission.
Och-Ziff, who is one of just a few hedge funds that is traded on the market, went public in November 2007, with their IPO going for $32 a share. The financial turmoil of 2008 caused their stock prices to plummet 80 percent as their hedge funds posted record losses.
However, gains in January have investors talking about a comeback. The company’s OZ Master Fund posted returns of 3.12 percent while their other three hedge funds also enjoyed positive returns.
Och-Ziff regularly files performance reports with the U.S. SEC because they are a publically traded company. Most hedge funds are not required to do so. However, a recent push for greater transparency in the troubled industry has caused many individuals in Washington to act. If a proposed plan brought on by two U.S. Senators gets approved, all hedge funds will be required to register with the SEC.
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