YRC Worldwide Inc (YRCW)

[yesmistermorningstar]

November 16 UBS from Switserland bought 1.600.000 shares. November 30 YRCW will present at Credit Suisse from Switserland. I wonder why so many Swiss are showing up ?

UBS Securities LLC buys 1.600.000 shares of Common Stock for $18,096,000.00.

On November 16, 2016, Avenue Special Situations Fund VI (Master), L.P., a Delaware limited partnership ("Avenue Spec VI") and Avenue Special Opportunities Fund I, L.P., a Delaware limited partnership ("Avenue Special Opportunities") (collectively, the "Selling Avenue Funds") and UBS Securities LLC ("Buyer") executed a secondary block trade. The Selling Avenue Funds sold an aggregate of 1,600,000 shares of Common Stock to Buyer at $11.31 per share, for an aggregate purchase price of $18,096,000.00.

The sale of stock from a distressed asset investor to an institutional holder like UBS could be interpreted as positive for YRC.