Steven A. Cohen's hedge fund no longer holds Sotheby's shares
Earlier this year, a filing by the hedge-fund billionaire's company SAC Capital Advisors to the Securities and Exchange Commission revealed that it had recently accumulated a roughly six percent stake in the Sotheby’s, this, combined with the fact that Cohen was showing works from his own collection at Sotheby's around the same time, prompted speculation that Cohen might make a move to by the auction house, reports the New York Times. A filing for the end of June has revealed that SAC has sold all its stock, the newspaper reports. The Times speculates that the investment vehicle simply sold the shares at a profit.
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