Omega Advisors, a hedge fund run by Chief Executive Leon Cooperman, sold its stake in Apple Inc and took new stakes in SandRidge Energy Inc and Facebook Inc in the fourth quarter, a regulatory filing showed on Wednesday.Cooperman, whose hedge fund had $7 billion in assets as of last November, sold his entire stake of 266,404 shares in tech giant Apple, the Securities and Exchange Commission filing showed. The company's stock was trading up 0.26 percent in intraday trading Wednesday after the filing was released.Apple has come under scrutiny from prominent hedge fund manager David Einhorn, who announced on Feb. 7 that he was suing the company to get it to deploy its $137 billion cash pile more effectively and halt a 35 percent drop in its share price from a record high in September. Einhorn's fund, Greenlight Capital, has a stake in the company worth about $600 million.Cooperman's fund also took a new stake in U.S. oil and gas producer SandRidge Energy of 24.38 million shares, and a new stake of 3.16 million shares in Facebook Inc in the fourth quarter. The fund also increased its stake in oil and gas company McMoRan Exploration Co by about 1.8 million shares.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.18% or $0.82/share to $468.72. In the past year, the shares have traded as low as $435.00 and as high as $705.07. On average, 21700500 shares of AAPL exchange hands on a given day and today's volume is recorded at 12914690.
Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 2.92% or $0.7985/share to $28.17. In the past year, the shares have traded as low as $17.55 and as high as $45.00. On average, 73363696 shares of FB exchange hands on a given day and today's volume is recorded at 38604980.
McMoRan Exploration Co. (McMoRan) is engaged in the exploration, development and production of oil and natural gas in the shallow waters (less than 500 feet of water) of the Gulf of Mexico and onshore in the Gulf Coast area of the United States. Shares of MMR traded higher by 0.06% or $0.01/share to $16.08. In the past year, the shares have traded as low as $7.25 and as high as $16.13. On average, 5431710 shares of MMR exchange hands on a given day and today's volume is recorded at 276304.
SandRidge Energy, Inc. (SandRidge) is an independent oil and natural gas company. Shares of SD traded higher by 6.04% or $0.3399/share to $5.97. In the past year, the shares have traded as low as $4.81 and as high as $8.98. On average, 12894400 shares of SD exchange hands on a given day and today's volume is recorded at 12067195.
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