Soros Offloads Penn Virginia (PVA) Call Options, Adds Swaps

A 13D filing by Soros Fund Management reveals that George Soros’ beneficial ownership in Penn Virginia Corporation (NYSE:PVA) has fallen to 6,003,509 shares, amounting to an 8.40% stake in the oil and gas exploration company. In late June Soros beneficially owned 6,253,509 shares, i.e. 9.53%, but this included call options on 250,000 shares of Virginia Corporation (NYSE:PVA), purchased by Soros Fund Management on June 6, 2014. These options had an expiration date of July 19, 2014 and a strike price of $17.00. As at March 31, PVA had 65,596,359 shares outstanding according to its 10Q filing. Soros sells 250,000 call…