The companies managed by investors such as John Paulson and George Soros had bought large amounts of shares of Citigroup in the past quarter. Over 120 hedge funds have bought shares of the bank, police Bloomberg. The fund Paulson & Co. already has 506.7 million shares of Citigroup to 300 million in the third quarter shows a report sent to the authorities. Soros Fund Management LLC did 94.7 million has bought shares worth 313.4 million dollars. Investors may also set the price of the shares of Citigroup, after the papers have lost 94 per cent of its price during the credit crunch. In the fourth quarter, the bank has sold over 5 billion new shares to be able to repay the government aid. Financial institution shares have been traded for an average of 4.1 dollars in the quarter. Yesterday was the closing price of 3.31 dollars.
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