Citigroup Inc. shares traded above $5 on Thursday for the first time since January as the stock moved higher on reports hedge-fund manager John Paulson has been building up a stake in the company. Citi shares had touched $5 earlier this week but failed to move above that level, according to FactSet Research.
Shares of the banking giant, which has been the recipient of government bailout funds and backstops, were up more than 8% in afternoon trade Thursday.
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