Investment Funds Lose Faith in Spread Betters, Post-IPO Bets Went Awry

[kreslik.news]

FMR Co., Inc., a registered investment advisory firm located in Boston, followed the wider market sentiment toward spread-betting players and offloaded part of its stake in CMC Markets, according to a recent disclosure with the London Stock Exchange.

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The US investment firm helped to float the spread betting business at 240p a share in February and held on to a more than 5 percent stake in CMC Markets for nearly six months before it has cut its holding to below this threshold on December 15.

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