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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: mahler_one who wrote (41896)2/12/2004 11:43:34 PM
From: hedgeclipper  Read Replies (1) of 42804
 
M1
Wellington has been a long time supporter of MRVC but if you look closer at that part of the MRV website you would see that Wellington's position is down 2.2 million shares from a year ago when they were at 9.744 million shares. (This filing is required annually if you are over 5%. Look at last year's filing.).

And if you were really paying attention, you would remember that Wellington was briefly over 10% and 10 million shares in Dec. 2002 when they helped MRV out with cashing out some of the convertibles.

Now I don't think this is the end of the world because Wellington has some nice profits having been a buyer when the stock was below $2 and lower and its only prudent to take some, especially if you manage someone else's money.

By the way, I understand that MRV was pitching Fidelity in December so they may be showing up as an institutional buyer who has increased their position recently. But not Wellington.....

hc
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