Tuesday, January 30, 2007

Ken Griffin's Citadel Accumulates a Large Stake in NVE Corp (NVEC)

Here's another interesting 13G filing as noted at our main site http://www.streetinsider.com/13Gs

In a 13G filing on NVE Corp. (Nasdaq: NVEC), hedge fund Citadel LP disclosed an 8.3% stake (384K shares) in the company. The fund did not show a stake in NVE for the quarter ended Sept 30, 2006.

Started by market-guru Kenneth Griffin in his Harvard dorm room in 1987, Citadel has become one of the world's largest hedge funds.

NVEC is a battleground between long and shorts. The stock rises and falls related to the promise of MRAM.

Shares are higher on the news.

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