Late-Day Trading

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Late-Day Trading

A practice in which a hedge fund buys or sells shares in a mutual fund after the end of a trading day, but asks the fund to record the transactions at the end of the trading day. Because the net asset value (NAV) of a mutual fund is determined at the end of each trading day, transactions that occur after the end of the trading day may distort the fund's true NAV. This allows a hedge fund to close their positions the next trading day at a profit. Late-day trading is considered unethical, but it is not illegal.
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In late day trading, FedEx shares are up 1% to $158.39.
Shares of advertising technology firm Rubicon Project (RUBI) are falling in late day trading after a Bloomberg report that said Amazon (AMZN) is near to buying the ad-serving technology of bankrupt company Sizmek.
In late day trading, Fannie Mae shares are up 40c, or 16%, to $2.86 while Freddie Mac is up 36c, or 15%, to $2.72.
As a result, we remain very encouraged by the outlook for the business heading into 2019." Shares of ToughBuilt are up 210% or $2.60 per share to $3.90 in late day trading.
In late day trading, Scana shares are up about 0.5% at $43.92 after earlier having risen to over $44 per shares.
This also reflects a reduction in revenues attributable to non-strategic legacy opportunities, which has brought in less revenue than we previously anticipated." In late day trading, Radcom shares have fallen 84c, or 8%, to $10.05.
He keeps a Buy rating and $423 price target on Biogen shares, which is down 5.7% to $287.73 in late day trading.
PRICE ACTION: Ciena is off its intraday low of $24.64, trading down 1.8% at $26.15 heading into late day trading.
In late day trading, ViaSat shares are up $2.62, or 3.75%, to $72.55.
The sellers were in control all day, pushing the market another leg lower in late day trading. There was little in the way of buying as the averages reflect a bit of additional caution ahead of the President's State of the Union Address tomorrow, the FOMC rate decision on Wednesday and the U.S.
Additionally, were stock weakness to persist, Wynn Resorts could be an interesting strategic asset in a consolidating industry, added Allen, who keeps an Overweight rating on Wynn shares, which are down 10.5% at $179.56 in late day trading.