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Funds Notebook: Fund Companies' Favorite Stocks Lately Have Been Their Own
Apparently, fund companies just can't get enough of themselves.
On Wednesday, T. Rowe Price (TROW Quote), manager of $96.4 billion in mutual fund assets, expanded its 1995 share buyback program, clearing the company to buy up to 5.5 million of its own shares.
The buyback announcement comes on the heels of similar announcements by two other money managers, Neuberger Berman (NEU Quote) and Gabelli Asset Management (GBL Quote). ...
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