Fidelity buys nearly 6 million shares of US Air

[700UW]

Fidelity buys nearly 6 million shares of US Air
Triangle Business Journal - 12:49 PM EDT Monday, September 10, 2007

Fidelity Investments has increased its holding in US Airways Group to nearly 13.8 million shares after cutting its stake in the company just two months ago.

According to a filing with the Securities and Exchange Commission, Fidelity parent FMR Corp. now holds 15 percent of the airline's outstanding shares.

In July, the Boston-based firm reduced its holding in US Air to 7.9 million shares, or 8.65 percent of the company. FMR had owned 11.7 million shares, or about 12.8 percent of the airline.

Shares of US Airways (NYSE: LCC) are trading in the $30 range after topping $35 around the time Fidelity made its last sale. They were down 3 cents to $29.78 in early afternoon trading Monday.

Arizona-based US Air is the No. 4 major carrier at Raleigh-Durham International Airport, behind Southwest, American and Delta. The airline operates a major hub out of Charlotte-Douglas International Airport.

Fidelity Investments, led locally by Don Haile, is in the midst of tripling its Triangle work force from 1,000 to 3,000.

 

[Coffee_Tea_Or_Me]

I wonder what they know that the rest of us don't?

 

[1 VF-1 2NV]

Aight everyone, start buying LCC shares. I smell a quick buck or should I say millions !

 

[noname]

Aight everyone, start buying LCC shares. I smell a quick buck or should I say millions !

Or you could end up with $0.00 as many did from previous purchases of US Airways stock. I'll pass, thanks.

 

[RowUnderDCA]

I think it's a petro position... not an airline position.

 

[SkyRat]

Or you could end up with $0.00 as many did from previous purchases of US Airways stock. I'll pass, thanks.

It's a gamble. Hey after all, they are infused with the CACTI pricks. BUY some and be ready to sell 'em quick! Always works.

 

[cubfan02us]

Fidelity also tripled it's investment in United.....

Probably just a readjustment of their exposure to the aviation sector. Nothing to do with
any potential merger activity.

 

[UAL_TECH]

Does Fidelity manage the USair 401K as well as UAL?
Just curious.

Thnx,
B) UT

 

[Be Careful What You Wish For.]

UAL was also picked up by Fidelity. Must mean fuel is leveling off.