Marshall Wace Llp Has Raised Its Holding in Icici Bank (IBN) by $10.71 Million

May 17, 2018 - By Robert Crowder

ICICI Bank Limited (NYSE:IBN) Logo

Paul Marshall increased its stake in Icici Bank (IBN) by 72.6% based on its latest 2017Q4 regulatory filing with the SEC. Marshall Wace Llp bought 1.19 million shares as the company’s stock declined 11.13% with the market. The hedge fund run by Paul Marshall held 2.83 million shares of the commercial banks company at the end of 2017Q4, valued at $27.52 million, up from 1.64M at the end of the previous reported quarter. Marshall Wace Llp who had been investing in Icici Bank for a number of months, seems to be bullish on the $28.40B market cap company. The stock decreased 0.91% or $0.08 during the last trading session, reaching $8.68. About 2.50M shares traded. ICICI Bank Limited (NYSE:IBN) has risen 12.06% since May 17, 2017 and is uptrending. It has outperformed by 0.51% the S&P500.

Marshall Wace Llp, which manages about $2.38 billion US Long portfolio, decreased its stake in Cimarex Energy C (NYSE:XEC) by 59,380 shares to 31,557 shares, valued at $3.85 million in 2017Q4, according to the filing. It also reduced its holding in Micron Tech (NASDAQ:MU) by 808,406 shares in the quarter, leaving it with 134,629 shares, and cut its stake in Loews Corp (NYSE:L).

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