Fidelity More Than Doubled Citigroup Stake in Quarter

Bloomberg reports:

Fidelity Investments, the world’s largest mutual-fund company, more than doubled its stake in Citigroup Inc. in the fourth quarter, ahead of a 63 percent slide in the stock this year.

Fidelity bought 104 million shares of Citigroup in the quarter ended Dec. 31, bringing its stake in the bank to 171 million shares, or 3.1 percent, according to data compiled by Bloomberg. The Boston-based firm is the sixth-biggest holder of Citigroup, the data show.