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

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

Why exactly is Clover Wellness trading higher now?

Over the weekend break, it was reported that Clover supervisor Chelsea Clinton had recently purchased shares of CLOV stock. The purchase, which happened on March 3, saw Clinton acquire 100,000 shares for an ordinary cost of $2.52 per share. In total amount, Clinton’s current deal amounted to $252,530, according to a Form 4 submitted to the U.S. Stocks and Exchange Compensation (SEC).

Why Is CLOV Stock Up Today?
Now, CLOV stock is up in response to Clinton’s purchase, which capitalists are viewing as a favorable signal. Many times, director trading activity similar to this is important to track because experts usually have a much better view of a business’s long-term development potential than retail capitalists.

So, with that in mind, are various other insiders of Clover favorable on the company? In the past one year, insiders have actually acquired 2.2 million shares and also marketed 22.9 million shares. That’s an internet of 20.6 million shares marketed. This mass insider selling seems to correlate with CLOV stock’s decrease of more than 60% over the past one year.

Still, with Clinton’s current purchase, financiers are wondering who else is betting large on Clover Health and wellness. Allow’s jump right in.

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

Lead has 25.9 million shares or 7.65% possession. The company bought 8.8 million shares during Q4.
Greenoaks Capital Allies owns 24.8 million shares or 7.34% ownership. The company offered 24.8 million shares during Q4.
Baillie Gifford has 7.8 million shares or 2.3% possession. The firm bought 2.6 million shares during Q4.
2 Sigma Investments has 6.6 million shares or 1.95% ownership. The firm purchased all 6.6 million shares during Q4.
PNC Financial Services (NYSE: PNC) has 6.4 million shares or 1.88% ownership. The company offered 249,850 shares during Q4.
Out of the top 5 shareholders, three funds lowered their placements as well as two funds boosted their settings. Greenoaks Capital Partners had the most significant deal, as the fund offered about 50% of its existing position during Q4. Two Sigma’s 6.6 million share acquisition was also significant, as the purchase put it amongst the leading 5 investors.