Tags: moore | hedge | emerging | markets | etf

Moore Capital Invests in Emerging-Market ETFs

Monday, 15 August 2011 05:39 PM EDT

Moore Capital Management LLC, the hedge fund run by Louis Moore Bacon, bought stakes in two emerging-market exchange-traded funds in the second quarter.

The New York-based fund bought 6 million shares of Vanguard MSCI Emerging Markets ETF valued at $292 million as of June 30, and 3.2 million shares of iShares MSCI Emerging Markets Index valued at $152 million, according to a regulatory filing day.

The fund sold its entire stake, valued at $165 million, in Alcon Inc., a Hunenberg, Switzerland-based eye-care company, that was acquired in April by drugmaker Novartis AG of Basel, Switzerland. Moore also sold all 435,000 shares of EOG Resources Inc., a Houston-based oil and natural gas exploration company, that it bought in the first quarter.

At the end of the second quarter, financial stocks represented 37 percent of the fund’s $2.1 billion in equities. Information technology represented 13 percent and health care 12 percent, according to data compiled by Bloomberg.

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InvestingAnalysis
Moore Capital Management LLC, the hedge fund run by Louis Moore Bacon, bought stakes in two emerging-market exchange-traded funds in the second quarter.The New York-based fund bought 6 million shares of Vanguard MSCI Emerging Markets ETF valued at $292 million as of June...
moore,hedge,emerging,markets,etf
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2011-39-15
Monday, 15 August 2011 05:39 PM
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