Shares in merchant acquirers – some of the biggest financial technology stocks – edged up after being pummeled by the biggest and most influential tech company this year by buying into a tech-related hedge fund.
The funds were able to buy back shares of the biggest tech-heavy stock in the space and, despite losing their funding in the past, the shares were likely to have a decent amount of cash.
In a filing with the SEC, the funds disclosed that as of 10 Dec 2015, they had acquired 7.4% of the company’s total revenue. The funds, which had already issued 1.0% of the shares through their current purchase, have recently added 1.4% of the company’s total revenue.
The money is worth around $5 million – and up by about 15 percent each year to $2.7 billion.
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