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Investor Stake Boosts Shares of MBIA, Mortgage Insurers
Shares of bond insurer MBIA (MBI) are up more than 10% after Davis Selected Advisors disclosed a 5.1% passive stake in the firm. Davis Advisors also took a $1.2 billion stake in Merrill Lynch last week (Merrill Sells Up To $6.2B Stake at Discount).
Shares of Ambac (ABK), The PMI Group (PMI), and MGIC Investment (MTG) are also up on the news.
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