Hargreaves Lansdown's head of research Mark Dampier, his wife Annette and the firm's CIO Lee Gardhouse sold a total of £6.1m of HL shares last month, prior to the shares going into freefall following the suspension of Woodford UK Equity Income.
Co-founder of HL Stephen Lansdown also sold more than £170m in HL shares on 22 May; he no longer works for the company but still holds a 9.3% stake worth £839m having previously held a 10.89% stake. Last Monday (3 June), Woodford Investment Management announced it was suspending trading on the Equity Income fund for at least 28 days due to a surge in redemptions. HL dropped its platform fee on the Equity Income fund and removed the fund from its Wealth 50 two days later. Hargreaves Lansdown CEO apologises to clients stuck in Woodford fund However, HL's shares suffered as a resu...
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