|Bid||53.18 x 500|
|Ask||0.00 x 0|
|Day's Range||56.46 - 56.64|
|52 Week Range||55.10 - 58.85|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.15%|
Billionaire Carl Icahn finally had a good investment quarter as he pulled back on short positions in a fund in which his Icahn Enterprises (IEP) has a large holding. Icahn Enterprises, a diversified holding company controlled by Icahn, disclosed on its earnings conference call yesterday that the Icahn-run fund, in which the limited partnership holds a $2.7 billion investment, gained 4.3% in the second quarter, bringing the year-to-date performance to about 1.5%. The fund, which holds sizable stakes in American International Group (AIG), Herbalife (HLF), Cheniere Energy (LNG) and Freeport McMoRan (FCX), had a net short position of 44% at the end of the second quarter, against a net short position of 128% at year-end 2016.
Today’s U.S. Consumer Price Index (CPI) numbers were notably firm, confirming that weakness in the fourth quarter of 2016 was the result of residual seasonality in core goods prices rather than a more worrisome decline in the underlying trend pace of inflation. With today’s print, the annualized core rate of inflation in the three months through January ticked up to 2.3% after having held at around 2.0% for much of the second half of 2016. As we mentioned in a recent blog post , we were careful
The weekly charts for U.S. Treasury bonds, gold and utility stocks are back into consolidation mode, but these 'flight to safety' investments still outperform stocks year to date.