Big Investor Quits WisdomTree

Oct 5 2011 | 1:04pm ET

Hedge fund legend Michael Steinhardt's WisdomTree Investments saw its stock price fall by a quarter after one of its biggest investors pulled out of its funds.

The exchange-traded fund shop saw its assets fall 5.9% last week to $11 billion. Much of that decline is attributable to the exit of a large institutional investor. WisdomTree would not identify the investor.

The 25% decline was WisdomTree's worst three-day stock plunge in almost three years.

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