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Why Is Clover Health (CLOV) Stock Up Today? Director Chelsea Clinton purchased 100,000 shares of CLOV stockĀ 

Today, investors of Clover Health and wellness (NASDAQ: CLOV) are smiling ear to ear. Although clov stock price today stays down greater than 25% year-to-date (YTD), shares of the firm are up over 20% today.

Why exactly is Clover Wellness trading greater right now?

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

Why Is CLOV Stock Up Today?
Right now, CLOV stock is up in response to Clinton’s purchase, which investors are deeming a favorable signal. Most of the times, director trading task like this is essential to track because experts usually have a much better view of a firm’s lasting growth potential than retail capitalists.

So, keeping that in mind, are various other experts of Clover favorable on the firm? In the past 12 months, experts have actually acquired 2.2 million shares as well as marketed 22.9 million shares. That’s an internet of 20.6 million shares offered. This mass expert marketing seems to correlate with CLOV stock’s decline of more than 60% over the past one year.

Still, with Clinton’s recent acquisition, investors are questioning that else is betting large on Clover Health. Let’s jump right in.

Who Else Is Betting Big on Clover Health And Wellness?
As of the 4th quarter, 160 institutional financiers own shares of CLOV stock. That marks a quarter-0ver-quarter (QOQ) increase of 8.8%. Throughout the duration, the complete amount of shares held by institutional financiers additionally enhanced from 105.7 million to 129.8 million, up nearly 23% QOQ. Let’s have a look on top 5 institutional investors.

Lead has 25.9 million shares or 7.65% ownership. The company bought 8.8 million shares during Q4.
Greenoaks Funding Allies owns 24.8 million shares or 7.34% ownership. The firm offered 24.8 million shares throughout 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 bought all 6.6 million shares throughout Q4.
PNC Financial Services (NYSE: PNC) possesses 6.4 million shares or 1.88% ownership. The firm marketed 249,850 shares throughout Q4.
Out of the leading 5 investors, 3 funds lowered their settings and two funds boosted their placements. Greenoaks Resources Allies had the most remarkable deal, as the fund sold about 50% of its existing setting throughout Q4. Two Sigma’s 6.6 million share purchase was likewise notable, as the purchase put it amongst the top five shareholders.