SPO Advisory trims Crown Castle holdings
SPO Advisory Corp. has sold a significant chunk of its holdings of cellphone tower operator Crown Castle International Inc.
According to regulatory filings, the institutional hedge fund investor disposed of 3.05 million shares in multiple transactions between June 17-24. The shares were sold in a range between $38.95 and $39.43 apiece and were worth just over a combined $120 million.
After the sale, SPO still holds 32 online payday loans.6 million shares, worth some $1.27 billion based on the June 28 closing price of $38.92.
Houston-based Crown Castle (NYSE CCI), which has been a favorite investment of the Bill & Melinda Gates Foundation in recent years, has 290 million shares outstanding.