Tech Industry

Short Take: Competition ups E*Trade stake; execs sell shares

Fidelity raised its stake in E*Trade, one of its online competitors, to 10.55 percent, or 4.1 million shares, during January, up from 7.99 percent, or about 3 million shares, at the end of 1997. The stake represents a holding across Fidelity's family of mutual funds. E*Trade CEO Christos Cotsakos filed to sell 70,000 shares, while Kathy Levinson, executive VP of operations, filed to sell 30,000 shares, valued at $1.7 million and $735,000, respectively, according to an SEC filing.

Fidelity raised its stake in E*Trade, one of its online competitors, to 10.55 percent, or 4.1 million shares, during January, up from 7.99 percent, or about 3 million shares, at the end of 1997. The stake represents a holding across Fidelity's family of mutual funds. E*Trade CEO Christos Cotsakos filed to sell 70,000 shares, while Kathy Levinson, executive VP of operations, filed to sell 30,000 shares, valued at $1.7 million and $735,000, respectively, according to an SEC filing.