Hedge fund titan Viking Global made a $680 million bet on scandal-plagued Wells Fargo (WFC)
|08/19/2017||Posted by BusinessMediaguide.Com under General World News||
One of the world’s largest hedge funds made a huge bet that scandal-plagued Wells Fargo‘s worst days are behind it.
Viking Global, a $30 billion asset manager founded by Norwegian billionaire Andreas Halvorsen, disclosed Monday it had bought 12.3 million shares in the troubled bank, worth around $681 million, in the second quarter.
The fund also cashed out its stake in JPMorgan Chase, selling 3.7 million shares worth $325 million, according to Bloomberg.
The filings represent second quarter holdings at Viking, so the firm’s positions could have changed since the end of the quarter.
Wells Fargo has withstood a fusillade of read more >>>