Kenneth Griffin’s Citadel Investment Group further reduces E*Trade Financial Corp stake

May 2nd, 2011
| More
Kenneth Griffin’s hedge fund Citadel Investment Group, which is E*Trade Financial Corp’s largest shareholder after bailing out the company in 2007, has sold a further 27.5 million shares in the company. This comes after a February 24th move in which Citadel sold 24 million shares in the company, cutting its ownership stake from 27% to 18%.

This move will cut its stake to less than 10%. Last year, Citadel Investment Group sold 172 million shares in the company, causing a 7.1% fall in share price. E*Trade shares fell about 2.4% after the most recent announcement.
See Source
For Detailed Investor Profiles on these Investors, click below:
Citadel Investment Group
Related People: ; Becket Wolf*; Brandon Haley; David Grossman; Derek Kaufman; Jeff Runnfeldt*; Joe Squeri; Kaveh Alamouti*; Kenneth Griffin; Mark Stainton; Ryan Garino; Steve Weller*
Related Entities: Citadel Alternative Asset Management; Citadel Equity Fund; Citadel Kensington; Citadel Wellington; Equiduct; New Castle Re; Sowood Capital*
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

More Recent Headlines

London remains center of European Hedge Fund universe despite higher taxes

FERC flexes its New Muscle with $30M fine on former Amaranth Advisors trader Brian Hunter

Best Practice Series: Team Work at Hedge Funds

Lee Robinson’s Trafalgar Capital Management winds down Catalyst hedge fund

Citadel LLC hires Edwin Lin and Steven Goldberg to bolster Global Fixed-Income Investment Team

List of Wealthiest College Graduates see assets jump by nearly 15%

Margin of Safety: An alternative risk assessment tool?

Former Gartmore Fund Managers Roger Guy and Guillaume Rambourg to start hedge fund

Former Deephaven Capital portfolio manager Edouard Salet launches Apson Capital Management

Julian Robertson’s Tiger Management Corp to accept outside investors for first time in 10 years