According to Bloomberg, Oaktree Capital Management increased its stake in MGIC Investment Corp. (MTG), while Perry Corp. lowered its holdings in the mortgage insurer.
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.
