Last edited 2:21 p.m., Dec. 24, 2019
O’Reilly Automotive Inc. (Nasdaq: ORLY) board Chairman David O’Reilly disclosed a transaction involving 18,000 shares.
Through the Dec. 20 deal, O’Reilly contributed the shares — valued at roughly $8 million — to an exchange fund in return for shares of the fund, according to a U.S. Securities and Exchange Commission filing. Investopedia.com defines an exchange fund as a pool of shares in multiple companies through which investors can exchange shares for units in the fund’s portfolio.
"He and his children are using the exchange fund as a mechanism to diversify their overall investment portfolio, which they have done at various times in the past," O'Reilly Automotive Investor Relations Vice President Mark Merz said via email.
Following the deal, O’Reilly owned 131,269 direct and 477,162 indirect shares in O’Reilly Automotive, according to the filing.
ORLY shares were trading at $437.95 as of 10:27 a.m., compared with a 52-week range of $329.26 to $454.31.
Realtor reinvents her career with cryotherapy business.