Why Ally Financial (ALLY) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Ally Financial (ALLY) are up 2.99% to $24.15 on very heavy trading volume after it was reported that hedge fund manager Dan Loeb acquired a large stake in the finnancial services company during the second quarter, according to an SEC filing today, according to Market Watch.

Loeb's Third Point fund acquired 45.6 million shares of the company during the latest reporting period, according to a 13F filing.

Loeb dumped stakes in Google (GOOG), Baidu (BIDU) and Citigroup (C), according to the SEC filing.

 

ALLY ChartALLY data by YCharts

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