Numerai secures $30 million to create 'the ultimate hedge fund'
Funding Announcement: Numerai, a San Francisco-based hedge fund, has raised $30 million in Series C funding, valuing the company at $500 million, a significant increase from 2023.
Investor Backing: The funding round included support from university endowments and notable investors like Union Square Ventures and Paul Tudor Jones, enhancing Numerai's institutional credibility.
Growth Plans: The capital will be used to expand AI engineering, grow its global data science tournament, and scale institutional products, aiming to increase assets under management (AUM) toward nearly $1 billion.
Performance and Strategy: Numerai's AUM has surged from $60 million to $550 million in three years, with a flagship fund returning 25.45% net in 2024, driven by a unique model that combines predictions from a global data science competition.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U) As of , Union (U) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for U stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, U is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.97 | 0.977 | 0.989 | 0.996 | 1.007 | 1.014 | 1.026 |
| Fibonacci | 0.977 | 0.984 | 0.989 | 0.996 | 1.003 | 1.007 | 1.014 |
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