John Clandening, Executive Vice President of Investor Services at Charles Schwab Corp (NYSE:SCHW), completed a disposition of 14,000 shares of Common Stock yesterday. The stock was sold indirectly through a Trust, and the insider paid a price of $27.77 per share. He also engaged in a non-qualified stock option exercise and following his first stock disposition of the fiscal year, Clandening now owns a total of 71,365 company shares.
Furthermore, on Friday, the firm’s Chairman, Charles Schwab unloaded 327,466 shares of Common Stock, paying a price of $27.60 per share and exercising a stock option as well. The insider has repeatedly sold large bulks of shares over the past months, unloading 250,000 Common Stock in May, for a price of $26.59 per share.
However, the $36.13 billion market cap loan holding firm remains a preferable shareholding option amongst hedge funds. John H. Scully’s Spo Advisory Corp is this quarter’s largest shareholding hedge fund, with 42.6 million company shares, worth $1.1 billion and accounting for 17.48% of the portfolio.