Why Is Clover Wellness (CLOV) Stock Up Today? Supervisor Chelsea Clinton bought 100,000 shares of CLOV stockĀ 

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

Why precisely is Clover Health and wellness trading greater today?

Over the weekend break, it was reported that Clover supervisor Chelsea Clinton had actually recently bought shares of CLOV stock. The purchase, which took place on March 3, saw Clinton acquire 100,000 shares for a typical cost of $2.52 per share. In overall, Clinton’s current purchase totaled up 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 action to Clinton’s purchase, which investors are considering as a positive signal. Oftentimes, supervisor trading activity like this is important to track since experts frequently have a much better sight of a firm’s long-term growth capacity than retail investors.

So, with that said in mind, are other experts of Clover bullish on the company? In the past year, insiders have bought 2.2 million shares as well as marketed 22.9 million shares. That’s a net of 20.6 million shares marketed. This mass insider selling appears to correlate with CLOV stock’s decline of greater than 60% over the past one year.

Still, with Clinton’s recent purchase, investors are wondering that else is betting huge on Clover Wellness. Let’s jump right in.

Who Else Is Betting Big on Clover Health?
Since the fourth quarter, 160 institutional investors very own shares of CLOV stock. That notes a quarter-0ver-quarter (QOQ) rise of 8.8%. During the period, the complete amount of shares held by institutional financiers likewise enhanced from 105.7 million to 129.8 million, up nearly 23% QOQ. Allow’s have a look at the top five institutional shareholders.

Vanguard has 25.9 million shares or 7.65% ownership. The company purchased 8.8 million shares throughout Q4.
Greenoaks Resources Allies possesses 24.8 million shares or 7.34% ownership. The company offered 24.8 million shares throughout Q4.
Baillie Gifford has 7.8 million shares or 2.3% ownership. The firm acquired 2.6 million shares throughout Q4.
Two Sigma Investments has 6.6 million shares or 1.95% ownership. The firm bought all 6.6 million shares throughout Q4.
PNC Financial Provider (NYSE: PNC) has 6.4 million shares or 1.88% ownership. The company marketed 249,850 shares throughout Q4.
Out of the top 5 shareholders, 3 funds decreased their placements as well as two funds increased their placements. Greenoaks Resources Allies had one of the most significant purchase, as the fund offered concerning 50% of its existing position during Q4. Two Sigma’s 6.6 million share acquisition was likewise significant, as the acquisition put it among the top five investors.