Citadel Takes Advantage of Western Alliance's Sell-Off with 5% Stake Purchase
Hedge fund Citadel Advisors LLC has disclosed that it owns 5.3% of Western Alliance Bancorp's outstanding shares, up from 0.5% at the end of 2022. The Arizona-based bank's stock rallied more than 40% on Tuesday, following a broad bounce in the regional-bank sector, after plunging more than 60% over the previous three sessions.