Fort Worth Star Telegram- Citadel Investment Group is bullish on RadioShack, buying 6.9 million shares, or 5.3 percent of the electronics retail chain’s stock, according to a federal filing Monday.
With the purchase, the Chicago-based hedge fund becomes the fourth-largest holder of RadioShack stock — but the only one of the top seven that has been buying, not selling.
Why RadioShack, which is attempting a turnaround?
Citadel wouldn’t say. "We don’t comment on positions," spokeswoman Katie Spring said.
The filing with the Securities and Exchange Commission indicated that Citadel was not contemplating a takeover. Rather, reports described the purchase as a passive investment with no intent of influencing the company.