Volume Spike Investor

Citigroup (NYSE: C) is trading up now that it has one less government or sovereign wealth ownership stake as large as it was. Singapore’s sovereign wealth fund has cut its stake in Citi from about 9% down to below 5%.  Singapore is also realizing a $1.6 billion profit as it reduced its holding to the level planned ahead of a recent preferred exchange and conversion that has already happened.  At 8:25 AM EST we have Citi shares up 3.1% at $4.57 after a $4.43 close yesterday.  We have 4 million shares traded as well, but that number will grow far larger as the opening bell gets closer as it is a NYSE-listed stock.  Averahe volume here is in the hundreds of millions of shares. -JON OGG