TD Waterhouse Sells 1 Mln Knight/Trimark Shares in Past Week
Bloomberg News
September 1, 1999, 6:26 a.m. PT
New York, Sept. 1 (Bloomberg) -- TD Waterhouse Group Inc., the fourth-largest Internet brokerage, sold 1 million shares in the past week of Knight/Trimark Group Inc., the biggest market maker of Nasdaq stocks.
The sales, in two transactions Aug. 26 and yesterday, were reported by the Washington Service, which tracks insider stock trades recorded in Securities and Exchange Commission filings.
Shares of Jersey City, New Jersey-based Knight rose to 33 in early trading from 32 3/4 yesterday. They closed at 40 on Aug. 26. TD Waterhouse fell 1/4 to 15 1/16 yesterday.
Restrictions on open-market sales by major Knight/Trimark investors or officers and directors ended in mid-July, a year after its initial stock sale.
New York-based TD Waterhouse was among two dozen brokerages that helped form Knight/Trimark in 1995 and took equity stakes in the company.
TD Waterhouse first sold its own stock to the public June 23, selling 42 million shares at $24 apiece. The firm is 89 percent owned by Toronto-Dominion Bank. |
