Citadel Holding Investors Sell Off 87,500 Shares
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Santa Cruz Resources Inc. and three other companies said they cut their stake in Glendale-based Citadel Holding Corp., to 9.45% from 11%.
Citadel is the parent of Fidelity Federal Bank, which has been struggling because of the depressed Southern California real estate market.
In a filing with the Securities and Exchange Commission, Santa Cruz, Sierrita Resources Inc., Tucson Electric Power Co. and Tucson Resources Inc. said they sold 87,500 common shares of Citadel between May 12 and June 24 for $1.48 million.
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