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Fidelity buys nearly 6 million shares of US Air
Triangle Business Journal - 12:49 PM EDT Monday, September 10, 2007
Fidelity Investments has increased its holding in US Airways Group to nearly 13.8 million shares after cutting its stake in the company just two months ago.
According to a filing with the Securities and Exchange Commission, Fidelity parent FMR Corp. now holds 15 percent of the airline's outstanding shares.
In July, the Boston-based firm reduced its holding in US Air to 7.9 million shares, or 8.65 percent of the company. FMR had owned 11.7 million shares, or about 12.8 percent of the airline.
Shares of US Airways (NYSE: LCC) are trading in the $30 range after topping $35 around the time Fidelity made its last sale. They were down 3 cents to $29.78 in early afternoon trading Monday.
Arizona-based US Air is the No. 4 major carrier at Raleigh-Durham International Airport, behind Southwest, American and Delta. The airline operates a major hub out of Charlotte-Douglas International Airport.
Fidelity Investments, led locally by Don Haile, is in the midst of tripling its Triangle work force from 1,000 to 3,000.
Triangle Business Journal - 12:49 PM EDT Monday, September 10, 2007
Fidelity Investments has increased its holding in US Airways Group to nearly 13.8 million shares after cutting its stake in the company just two months ago.
According to a filing with the Securities and Exchange Commission, Fidelity parent FMR Corp. now holds 15 percent of the airline's outstanding shares.
In July, the Boston-based firm reduced its holding in US Air to 7.9 million shares, or 8.65 percent of the company. FMR had owned 11.7 million shares, or about 12.8 percent of the airline.
Shares of US Airways (NYSE: LCC) are trading in the $30 range after topping $35 around the time Fidelity made its last sale. They were down 3 cents to $29.78 in early afternoon trading Monday.
Arizona-based US Air is the No. 4 major carrier at Raleigh-Durham International Airport, behind Southwest, American and Delta. The airline operates a major hub out of Charlotte-Douglas International Airport.
Fidelity Investments, led locally by Don Haile, is in the midst of tripling its Triangle work force from 1,000 to 3,000.