Industry News

Mutual fund giant ups stake in Homestore

Fidelity Management & Research owns more than 13 million shares

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Mutual fund giant Fidelity Management & Research has increased its stake in Homestore to approximately 13.5 million shares, or 11 percent, according to FindProfit.com, an independent investment service for long- and short-term investors.   Fidelity Management & Research is one of Homestore's major institutional investors and previously held 7.9 million shares, or 6.5 percent at the end of 2003.   Homestore (Nasdaq: HOMS) stock traded at $5.05 a share today.   In the last four years since going public in the summer of 1999, Homestore's stock has experienced dramatic highs and lows, reaching $128 a share in January 2000 and dipping to 37 cents in November 2002.   Other top institutional holders of Homestore at year-end 2003 included Capital Research and Management with 13.6 million shares, Amerindo Investment Advisors with 5 million shares, RS Investment Management with 3.6 million shares and Barclays Bank with 3.6 million shares.   Homestore operates the...