PENN NATL GAMING INC

Ticker: PENN CUSIP: 707569109 Class: Common Stock

BAILARD, INC.'s Holding History (CIK: 0000750641)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015

Shares 13,254 Value ($000) $243 Avg Close $16.64 Range $14.78 - $18.80

Q1 2015

Shares 13,254 Value ($000) $208 Avg Close $15.71 Range $12.88 - $17.06

Q4 2014

Shares 29,000 Value ($000) $398 Avg Close $12.95 Range $10.50 - $14.75

Q3 2014

Shares 29,000 Value ($000) $325 Avg Close $11.28 Range $10.07 - $12.64

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	13,254	$243	$16.64	$14.78 - $18.80
Q1 2015	13,254	$208	$15.71	$12.88 - $17.06
Q4 2014	29,000	$398	$12.95	$10.50 - $14.75
Q3 2014	29,000	$325	$11.28	$10.07 - $12.64