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Joseph Schenk, member of the Board of directors of the US forex broker Gain Capital (NYSE:GCAP), has bought 10 000 company shares, show a filing with the US Securities and Exchange Commission (SEC).
According to the document, the transaction took place on November 9 and was worth a total of $54 097, at a price of $5.4097 per share. After the purchase Schnek has 87 619 shares in Gain Capital.
The share price shows that the Gain Capital stock has recovered slightly from the dip towards the end of October when within several days the price fell to a 52-week low and then slid below $5 per share, to to $4.59 on October 31. After another dip to $4.58 on November 3, upon the release of Gain Capital’s unfavorable quarterly and monthly results, the share price started rising and on November 10 the market closed at $5.67.
Gain Capital Group was established in 2003 and went public on the NYSE in 2010. The company serves retail and institutional clients under the trading brands Forex.com, City Index, GTX, and Gain Capital. It is active in North America, Europe and the Asia Pacific regions. The broker offers trading in forex, commodities, and global equities. Its largest retail forex broker, Forex.com, also offers white label solutions for other forex brokers, operating throughout the world.