Hedge Fund Valinor Management Buys More Accuride (ACW) ~ market folly

Friday, September 9, 2011

Hedge Fund Valinor Management Buys More Accuride (ACW)

David Gallo's hedge fund Valinor Management recently filed a 13G with the SEC regarding shares of Accuride (ACW). Due to portfolio activity on August 25th, Valinor has disclosed a 5.6% ownership stake in Accuride with 2,647,414 shares.

This marks a 46% increase in their position size since the end of the second quarter, as they've purchased 836,130 additional shares. Gallo's hedge fund has been active lately as they also added to their Popular (BPOP) position.

Per Google Finance, Accuride is "engaged in manufacturers and suppliers of commercial vehicle components in North America. The Company’s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, and other commercial vehicle components."

Valinor is invested in another economically sensitive name involved in the commercial vehicle sector as they also own Swift Transportation (SWFT).

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