Oaktree raises stake in MGIC, as Perry reduces holding
Investors gain from MGIC profit increases this year
Oaktree had 12 million shares of MGIC as of June 30, according to a filing today, up from 4.5 million at the end of the first quarter. Perry cut its stake to 4.2 million shares from about 9 million, according to a document filed with regulators this month.
MGIC stock rallied more than 170 percent this year, to $7.28 yesterday, benefitting investors including Perry, Oaktree and John Paulson who bet on a rebounding housing market.