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According to people familiar with the matter, the SEC is investigating trade activity on shares of BP
BP after the Deepwater Horizon explosion.
The SEC is probing whether there was irregular trade between April 20 - the day of the explosion - and late June - when BP was engaged in closing the well.
According to CNBC, "The probe focuses on whether or not third parties, such as hedge funds, were trading in a way that indicated they had insider information about the success or failure of efforts to stop the oil leak in the Gulf of Mexico."
Shares of BP are down 0.75% today, to $37.72.
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