Business

Fidelity fund managers sold 1.7 million shares of Facebook in June

Fidelity Contrafund manager Will Danoff was still a believer in Facebook Inc. in June, even after its rocky IPO. His colleague Ramin Arani, not so much.

Nineteen Fidelity Investments fund managers sold 1.7 million Facebook shares in June, while 16 funds added 2.8 million more shares to their holdings, according to data provided by Morningstar Inc., a Chicago fund-tracking firm.

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