Pale Fire Capital SE sold 3,914,409 shares of Galiano Gold Inc. This transaction represents a 49.5% reduction in the firm's total position.
A recent filing confirms Pale Fire Capital SE now holds 4,000,000 shares. Galiano Gold is currently the 15th largest holding in the firm's portfolio. The position accounts for 0.9% of the firm's total assets.
Large-scale sell-offs can create downward pressure on stock prices as the market absorbs increased supply. Investors are monitoring whether other institutional holders will follow this divestment.