Why Is Clover Health And Wellness (CLOV) Stock Up Today? Supervisor Chelsea Clinton acquired 100,000 shares of CLOV stock 

Right now, investors of Clover Health (NASDAQ: CLOV) are grinning ear to ear. Although clov stock price remains down more than 25% year-to-date (YTD), shares of the business are up over 20% today.

Why exactly is Clover Health trading higher right now?

Over the weekend, it was reported that Clover director Chelsea Clinton had actually lately bought shares of CLOV stock. The deal, which happened on March 3, saw Clinton acquire 100,000 shares for a typical rate of $2.52 per share. In total, Clinton’s recent deal totaled up to $252,530, according to a Type 4 submitted to the united state Securities and also Exchange Compensation (SEC).

Why Is CLOV Stock Up Today?
Right now, CLOV stock is up in action to Clinton’s acquisition, which capitalists are deeming a favorable signal. Oftentimes, director trading activity similar to this is important to track since insiders typically have a much better view of a business’s long-term development possibility than retail financiers.

So, with that said in mind, are other insiders of Clover favorable on the company? In the past 12 months, insiders have actually purchased 2.2 million shares and also marketed 22.9 million shares. That’s a net of 20.6 million shares offered. This mass insider marketing seems to correlate with CLOV stock’s decline of more than 60% over the past one year.

Still, with Clinton’s current acquisition, capitalists are wondering who else is wagering large on Clover Wellness. Let’s jump right in.

That Else Is Betting Big on Clover Health?
Since the fourth quarter, 160 institutional financiers very own shares of CLOV stock. That notes a quarter-0ver-quarter (QOQ) rise of 8.8%. During the period, the overall quantity of shares held by institutional capitalists also enhanced from 105.7 million to 129.8 million, up virtually 23% QOQ. Let’s have a look on top five institutional shareholders.

Lead has 25.9 million shares or 7.65% ownership. The company purchased 8.8 million shares during Q4.
Greenoaks Resources Partners owns 24.8 million shares or 7.34% ownership. The company sold 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The firm acquired 2.6 million shares throughout Q4.
Two Sigma Investments has 6.6 million shares or 1.95% ownership. The firm purchased all 6.6 million shares throughout Q4.
PNC Financial Services (NYSE: PNC) owns 6.4 million shares or 1.88% possession. The company offered 249,850 shares during Q4.
Out of the leading 5 shareholders, three funds reduced their placements as well as 2 funds increased their placements. Greenoaks Resources Allies had the most significant deal, as the fund offered regarding 50% of its existing setting during Q4. Two Sigma’s 6.6 million share purchase was additionally noteworthy, as the procurement put it amongst the top 5 shareholders.