Renaissance Among Gun Stock Sellers as Obama Presses for Limits
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Renaissance Technologies LLC and Cadence Capital Management LLC are among investors to report reduced holdings of weapons makers after the December massacre of school children spurred proposals for stricter gun control.
Cadence, among the 10 largest holders of Smith & Wesson Holding Corp. on Sept. 30, liquidated its stake of 1.22 million shares before year-end, filings show. Renaissance, the investment firm that uses computer models to determine trades, disposed of 370,000 Sturm Ruger & Co. shares in the fourth quarter, paring its holding to 2.5 percent from 4.4 percent.