Plus500 remains lucrative: Odey Asset Management hikes stake further

Another piece of news regarding shares in CFD broker Plus500 Ltd (LON:PLUS) is out. Earlier today, Odey Asset Management said it had bought 1,795,437 shares in the broker on May 19, 2015.

This raises the shareholding of the wealth management expert in Plus500 to 17,980,635 shares, making up for 15.65% of the voting rights. If we add other securities in the broker that Odey holds, its stake in Plus500 now exceeds 16%: it equals 16.27%, if we have to be more precise.

The latest purchase of shares by Odey follows a transaction on Monday that saw the asset manager acquire 1,605,000 shares, taking its stake in Plus500 above 14%.

So far the day has been controversial for Plus500 shares – after registering a decline in share prices soon after the start of trading (one share traded as low as 388p), the broker enjoyed some recovery in share prices in early afternoon.

At the moment of publication of this article, one share in Plus500 trades for 420p. That is actually higher than yesterday’s close.


Photo credit: Google Finance.

To view the original announcement on the latest Odey purchase of Plus500 shares, click here.

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