Fidelity Management has recently sold off 17.7 million shares of Electronic Arts (ERTS), bringing its stake in the company to 1.5%, down from 7%, according to a SEC filing.
It’s an odd time to dump EA — the company put up a pretty bad quarter, but it’s probably going to make another move for Take-Two (TTWO) later this month once the FTC finishes its investigation of the deal.
Maybe Fidelity isn’t holding its breath — It’s also the company that sold off most of its Take-Two shares in March after the video game maker turned down EA’s offer.
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