Scott Mcgregor, President and Chief Executive Officer of Broadcom Corporation (NASDAQ:BRCM), unloaded 75,000 shares of Class A Common Stock in a three day transaction, which was completed yesterday. The insider commenced by selling 25,000 shares on Friday, for a price of $38.36 per share, while disposing of 25,000 shares on Monday for $38.45 per share and closing the transaction with another 25,000 shares sold, at a price of $38.70 per share. Furthermore, the insider also used an employee stock option (right to buy) for the disposition.
While Mcgregor has persistently unloaded his company stock over the past quarter, hedge funds have remained stable and even increased Broadcom’s portfolio activity. Beeneet Kothari’s hedge fund, Tekne Capital Management entered a new position amongst shareholders, with 800,000 company shares, valued at $25.1 million. However, Bain Capital’s Brookside Capital holds the largest shareholder position this quarter, with 8.3 million shares, worth approximately $263.5 million and accounting for 7.01% of the hedge fund’s overall portfolio.