Bill Ackman Cuts Citigroup, Adds Procter & Gamble
NEW YORK (
) -
Pershing Square
hedge fund manager Bill Ackman liquidated his stake in
Citigroup
(C) - Get Report
, according to his latest
.
In the
Ackman owned 1.1 million shares of the New York-based bank. By the third-quarter, Ackman had sold all of it.
The activist investor, known for his stake in
J.C. Penney
(JCP) - Get Report
, also added to his stakes in
Procter & Gamble
(PG) - Get Report
and
General Growth Properties
(GGP)
.
He added to his call position in Procter & Gamble. In addition to the options, Ackman owns more than 27.8 million shares in the Cincinnati, OH.-based consumer products conglomerate. A call is the right to own shares at a predetermined price.
Shares of Citigroup fell 3.15% today to close at $35.02, while Procter & Gamble fell 0.48% to close at $66.53.
Interested in more on Citigroup? See TheStreet Ratings' report card for
this stock
.
--
Written by Chris Ciaccia in New York
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