Hedge Fund Titan Viking Global Made a $680 Million bet on Scandal-Plagued Wells Fargo (WFC)
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 Swedish 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...
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