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Citadel reports sale of more than 25.4 million shares of E*Trade
By Lisa Kerner
Charlotte, N.C., Oct. 5 - Citadel Investment Group, LLC sold 25,439,800 shares of E*Trade Financial Corp. common stock between Sept. 30 and Oct. 2 priced from $1.72 to $1.76 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Monday.
Between Sept. 22 and Sept. 24, Citadel sold 17 million shares, a prior SEC filing said.
The investor beneficially owns 178,179,512 shares, or 9.9%, of the New York financial services company.
As previously reported, Citadel affiliate Citadel Equity Fund, Ltd. terminated the Aug. 11 rule 10b5-1 trading plan it entered into in connection with its E*Trade holdings.
The plan provided for the sale of up to 120 million E*Trade shares, or about 10% of Citadel's holdings on an as-converted basis, for at least $1.20 per share.
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