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

May 2nd, 2011
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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.
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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


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