Investor Halves PDA Stake: A Boston investment...
Compiled by James M. Gomez, Times staff writer
Investor Halves PDA Stake: A Boston investment house has halved its stake in PDA Engineering Corp. by selling $3.1 million in shares, the company announced Friday.
The transaction dropped FMR Corp.’s ownership in the Costa Mesa-based mechanical engineering company from 11.49% to 5.87%, the company said. PDA Engineering develops and markets mechanical engineering software and provides specialized engineering services.
Between Aug. 16 and Aug 20, FMR sold 504,800 shares at $4.97 to $7.38 a share, according to a Securities and Exchange Commission filing. FMR now holds 527,100 shares of PDA common stock.
PDA stock closed at $5 a share Friday on the NASDAQ market, unchanged from Thursday.
