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Odey Asset Management, the hedge fund founded by Crispin Odey in 1991, has sold some of its shares in the UK-based forex broker Plus500 (LON:PLUS), shows a regulatory filing on Thursday with the London Stock Exchange.
As of February 25, 2016, the hedge fund holds 24.76% of the shares. This is a decrease of 0.7%, compared to the previous regulatory filing from Dec 10 last year, when Odey held 25.46% in Plus500.
Currently CF Odey Absolute Return Fund holds 17.32% (split between 3.79% in Ordinary Shares and 13.53% in CFDs) and Odey Allegra Developed Markets Fund holds 4.08%. All other funds hold less than 3%.
Besides Alon Gonen, the founder of Plus500, other major shareholders are the US multinational financial services firms JP Morgan Chase with 10.03% and Morgan Stanley with 6.81%.
Since the beginning of this year until February 24, the price of the Plus500 shares on the London Stock Exchange has risen by nearly 38% to GBX 575.5.
Plus500 offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs). It operates its own online trading platform for CFDs available in over 31 languages on desktop and mobile operating systems. It is licensed by three regulators – the Cyprus Securities and Exchange Commission (CySEC), UK’s Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC).