Exclusive: Elliott's Paul Singer Says Rumors Of Yahoo Position Are Not True

Shares of Yahoo! Inc. YHOO are trading up about 4.5 percent, at $36.05, on Thursday afternoon, following rumors that said that Elliott Associates had started a position in the company.

Benzinga contacted Paul Singer, the fund’s manager, who assured the rumors were not true. The stock is already falling slightly.

Some investments firms that are betting on Yahoo, however, include the Vanguard Group and FMR LLC, which last disclosed holding 48,589,442 shares (worth more than $1.9 billion) and 30,518,495 shares, respectively, as of the end of the second quarter of 2015.

Related Link: Calls Of Note: Wall Street Research Moving The Market On Thursday

Among hedge fund supporters, investors can count OZ Management and DE Shaw, which, by the end of the first quarter, held 14,647,989 shares and 12,434,375 shares of Yahoo, respectively.

For those looking for some stocks on which Mr. Singer is actually bullish, there’s CorMedix Inc. CRMD and Citrix Systems, Inc. CTXS. Last Tuesday, Elliot Associates disclosed a marked increase in its exposure to CorMedix, from 1,500,200 shares held as of the end of the first quarter, to 3,596,506 shares.

Citrix felt Singer’s bullishness even more strongly. Quite recently, the fund declared a new –activist- position in the company, comprising 5,530,040 shares, which represent about 3.5 percent of the total shares outstanding.

Posted In: NewsRumorsHedge FundsExclusivesMoversTechGeneralDE Shawelliott associatesFMR LLCOz ManagementPaul SingerVanguard Group
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