Nearly 30 funds run by Boston-based Fidelity Investments have bought a total of 2.4 million shares of Twitter in the days after its public debut. Fidelity's Contrafund led the way, holding 1.1 million Twitter shares at the end of November.
Tags: Fidelity Investments
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Fidelity Contrafund cuts Yahoo stake by 41 percent this year
Fidelity Investments Contrafund, the largest mutual fund investor in Yahoo Inc, cut its stake in the Internet media company by 41 percent during the first four months of 2014, according to the fund's latest disclosure.
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Lawrence Rakers will be replaced by Ramona Persaud as the manager of Fidelity Dividend Growth Fund and Fidelity Advisor Dividend Growth Fund starting January 1, Bloomberg reported.
Investors including FirstMark Capital, Valiant Capital Management, Andreessen Horowitz had provided Pinterest a total of USD225 million in the latter's recent financing round.
Seeing a decline in its fees and revenues in its current market, Fidelity Investments goes into ETF management, a market dominated by the Vanguard Group and BlackRock Inc.
The traditionally exclusive and sophisticated hedge fund investing market is now expected to be more open to the public through the partnership of Blackstone Group and Fidelity Investments, Reuters claimed.
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