Citi shares light up in evening trades

LOS ANGELES (MarketWatch) -- Shares of Citigroup Inc. climbed Friday evening after a regulatory filing showed that one of the world's largest hedge fund firms took a stake in the company.

Citi (4.16, +0.11, +2.72%) shares rose 2.5% to $4.15 in heavy trading that nearly topped Nasdaq's list of volume movers. Paulson & Co. held 300 million shares of Citi at the end of September, according to a filing with the Securities and Exchange Commission. Paulson didn't hold shares in the financial-services giant three months earlier.

The stake in Citi was valued at $1.45 billion on Sept. 30, according to the filing.