NEW YORK (Thomson Financial) - Home Depot's stock was the biggest percentage gainer among components of the Dow industrials after a fund disclosed that it took a stake of nearly 1% in the home improvement retailer.
The stock rose 2.1% to $29.63, and has gained 6.7% since hitting a 4 1/2-year low of $27.77 in intraday trading on Tuesday.
In a late-Wednesday filing with the U.S. Securities and Exchange Commission, RBS Partners, which is deemed to share investment discretion with billionaire investor Eddie Lampert's ESL Investments, said it acquired 16.7 million shares of Home Depot. That represents 0.9% of the weighted average diluted shares outstanding at the end of the company's fiscal third-quarter. Tomi Kilgore tk1 COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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