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May 16, 2007
D.E. Shaw Be Selling (Apple)
It's always worth knowing when a smart investor cuts its position in a high-profile stock. The $29-billion D.E. Shaw fund has cut its Apple holdings by about one-third:D.E. Shaw & Co., a New York-based hedge fund firm, sold Apple Inc. shares in the first quarter and bought financial-services companies including Ameriprise Financial Inc.[via Bloomberg]Shaw cut the Apple stake by a third, or 2.4 million shares, according to a regulatory filing. The firm reduced its technology stock holdings by 1.3 percent.
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