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Posted February 05. 2013 12:54PM

World's hottest hedge fund, Tiger Global, bails on Ruger

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Tiger Global established a sizable position in Sturm, Ruger that placed it among the $991 million company’s largest shareholders. According to the investment firm’s most recent SEC filling, it owned 800,000 shares as of Sept. 30, a 4.2% stake in Ruger then worth $40 million. Tiger Global amassed the position in the third quarter when the stock traded between $40.15 and $49.49.