Orange Capital Follows Citadel Into Cherry Hill Mortgage Investment
Daniel Lewis' Orange Capital just now disclosed initiating a stake in Cherry Hill Mortgage Investment Corp (NYSE:CHMI). The position held by Lewis involves 545,000 shares and represents 7.3% of the company. The company went on its IPO about a week ago, and Ken Griffin's Citadel Advisors yesterday disclosed purchasing a passive stake in the company.
In the 13G filing, Griffin reported owning around 7.6% of the company. However, later, in a Form 4, he disclosed holding only 400,000 shares of Cherry Hill, which places his stake at around 5%. After selling 6.5 million shares on the IPO at a price of $20 apiece, the stock price of Cherry Hill has lost around 4% since then.