Citi stock up on disclosure of fund stake

The AP reports:

Shares of Citigroup Inc. jumped in early Wednesday trading, after billionaire hedge fund manager Edward Lampert disclosed his firm bought more than 15 million shares of the diverse financial services conglomerate.

Shares rose 4% to $54.91. The stock has traded between $46.22 and $57 in the past 52 weeks.

Regulatory filings on Tuesday by RBS Partners, which manages Mr. Lampert's ESL Investments Inc., show that the fund started accumulating Citigroup shares last year.

A stock to watch.