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

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

Why specifically is Clover Wellness trading greater today?

Over the weekend break, it was reported that Clover supervisor Chelsea Clinton had lately bought shares of CLOV stock. The transaction, which took place on March 3, saw Clinton buy 100,000 shares for a typical rate of $2.52 per share. In total amount, Clinton’s current deal totaled up to $252,530, according to a Type 4 submitted to the united state Stocks and also Exchange Commission (SEC).

Why Is CLOV Stock Up Today?
Now, CLOV stock is up in reaction to Clinton’s purchase, which investors are considering as a favorable signal. Most of the times, supervisor trading task similar to this is necessary to track because experts commonly have a far better sight of a business’s long-lasting development potential than retail investors.

So, with that in mind, are other insiders of Clover bullish on the business? In the past year, insiders have actually purchased 2.2 million shares and also offered 22.9 million shares. That’s a net of 20.6 million shares offered. This mass insider selling appears to associate with CLOV stock’s decline of greater than 60% over the past one year.

Still, with Clinton’s recent acquisition, investors are wondering who else is betting 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) boost of 8.8%. During the period, the complete amount of shares held by institutional financiers additionally boosted from 105.7 million to 129.8 million, up almost 23% QOQ. Let’s take a look on top five institutional shareholders.

Vanguard has 25.9 million shares or 7.65% ownership. The firm bought 8.8 million shares throughout Q4.
Greenoaks Funding Partners has 24.8 million shares or 7.34% possession. The company marketed 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% ownership. The firm purchased 2.6 million shares throughout Q4.
2 Sigma Investments has 6.6 million shares or 1.95% possession. The firm purchased all 6.6 million shares throughout Q4.
PNC Financial Solutions (NYSE: PNC) owns 6.4 million shares or 1.88% possession. The firm offered 249,850 shares during Q4.
Out of the leading 5 investors, three funds decreased their settings as well as 2 funds increased their settings. Greenoaks Resources Partners had one of the most notable deal, as the fund marketed about 50% of its existing position during Q4. 2 Sigma’s 6.6 million share purchase was additionally remarkable, as the acquisition put it amongst the leading 5 investors.

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