Cramer's Trust Sells 100 Cardinal Health Shares at $219 as It Builds 12% Cash Buffer
Updated
Updated · CNBC · Jun 10
Cramer's Trust Sells 100 Cardinal Health Shares at $219 as It Builds 12% Cash Buffer
2 articles · Updated · CNBC · Jun 10
Summary
Jim Cramer's Charitable Trust sold 100 Cardinal Health shares at about $219, cutting the position to 425 shares and lowering its portfolio weight to 2.45% from 3.00%.
The trim is meant to push cash closer to Jim Cramer's 12% target ahead of Friday's SpaceX IPO, which the trust expects could trigger broader market volatility.
Cardinal Health differs from the trust's earlier sales this week: the stock is still slightly underwater, and the sale locks in about a 6% loss on shares bought in March.
Still, Cardinal has rebounded nearly 10% since the trust added 50 shares around $200, helped by rotation into health care and other defensive sectors; the trust downgraded the stock to a 2 from 1.
The move follows another sale of Eaton shares as the trust raises cash and guards against a possible pullback in tech, semiconductor and AI-linked stocks.