Shares of Rumble (NASDAQ:RUM) stock are now up by 67.5% during the past five trading days, bringing its year-to-date return to about 50%. These gains have been sparked by three announcements.
Known as a right-leaning video platform, shares of RUM stock accelerated higher after it was revealed that former President Donald Trump had won the Iowa caucuses with 51% of the total votes.
“As a company closely linked to conservative politics, Rumble is usually impacted by any news that affects Trump,” said InvestorPlace writer Samuel O’Brient.
RUM stock received another boost after Dave Portnoy’s Barstool Sports announced a partnership with Rumble. The partnership will make Rumble Barstool’s preferred video home for its content. Barstool will also be able to utilize Rumble Cloud as its service provider.
This morning, Rumble unveiled Rumble Studio, which will provide live-streamers with tools to increase and track user engagement. Rumble Studio will also provide video enhancement and integration features.
5 Investors Betting Big on RUM Stock
Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During the third quarter, 126 13F filers disclosed a stake in RUM, which remained unchanged compared to the prior quarter. At the same time, the total number of shares owned by these filers increased by 3.18% to 25.60 million from 24.82 million. Only one of these filers owns RUM in their top 10 positions.
Hedge funds, whose data is included in 13F metrics and who are usually more active than your average 13F filer, were a bit more bearish. Twenty-two hedge funds owned RUM as of the third quarter, down from 24 hedge funds. Total hedge fund ownership declined by 1.68% to 2.32 million shares from 2.36 million shares.
With that in mind, let’s take a look at Rumble’s top shareholders:
- Chris Pavlovski, founder and CEO: 140.18 million shares. Pavlovski’s stake remained unchanged during Q3.
- Ryan Milnes, director: 50.25 million shares. Milnes’ stake is accurate as of Q3 of 2022.
- Robert Arsov, director: 27.39 million shares. Arsov’s stake remained unchanged during Q4.
- Brandon Alexandroff, CFO: 18.89 million shares. Alexandroff’s stake remained unchanged during Q4.
- Bongino, Inc., the only holding of conservative commentator Dan Bongino’s company: 16.19 million shares. Bongino’s acquired 167,000 shares during Q4.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
