Notable Hedge Fund May Have Taken New Position In Apache
Shares of Apache Corp. (NYSE: APA) have rocketed higher in Monday's post-market session following word of a new stake from Barry Rosenstein and JANA Partners.
According to Bloomberg headlines which hit just ahead of 5 p.m. EDT, JANA's latest shareholder letter for the second quarter of 2014 showed a brand-new activist stake in Apache. The rumored investment by JANA in Apache sits at around $1 billion, Bloomberg said. This would make the position in Apache the fund's largest purchase during the second quarter.
Apache shares last traded at $101.50, up about three percent from Friday's closing price.
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