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Hedge fund titan Viking Global made a $680 million bet on scandal-plagued Wells Fargo (WFC)





Andreas Halvorsen

One of the world’s largest hedge funds made a huge bet that scandal-plagued Wells Fargo‘s worst days are behind it.

Viking Global, a $30 billion asset manager founded by Norwegian billionaire Andreas Halvorsen, disclosed Monday it had bought 12.3 million shares in the troubled bank, worth around $681 million, in the second quarter.

The fund also cashed out its stake in JPMorgan Chase, selling 3.7 million shares worth $325 million, according to Bloomberg.

The filings represent second quarter holdings at Viking, so the firm’s positions could have changed since the end of the quarter.

Wells Fargo has withstood a fusillade of read more >>>

Source:: BusinessInsider.Com

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