Houston’s AIM Management Doubles Its Stock in ICN

AIM Management Group, a large Houston investment fund manager, has doubled its stake in ICN Pharmaceuticals Inc. to 10.6% in recent months.

AIM reported Monday it owned 3.6 million shares of the Costa Mesa drug maker’s common stock on May 31, compared with 1.7 million shares on Feb. 28, according to securities filings. The filings with the Securities and Exchange Commission indicate that AIM remains the company’s second-largest shareholder, after Milwaukee-based Heartland Advisors Inc., another investment fund manager. Heartland held a 10.9% stake at the end of February.

ICN stock, which hit a 52-week high of $27.75 on May 22, closed Monday at $25.50 a share, up 37.5 cents on the New York Stock Exchange.