ABC Arbitrage SA Slashes Stake in Consolidated Edison by 80%

ABC Arbitrage SA significantly reduced its position in Consolidated Edison Inc (ED) during the third quarter, according to recent regulatory filings. The investment firm sold 35,654 shares, representing an 80.7% decrease in its total holdings. Following the transaction, ABC Arbitrage SA retains 8,511 shares of the utility company, valued at approximately $856,000. This move coincides with reported insider selling activity, including a transaction by company Director John F. Killian. While the percentage reduction is substantial for the fund, the overall market impact remains limited given the relatively small dollar value involved. Market analysts view this as a routine portfolio rebalancing or profit-taking measure rather than a shift in the company's fundamental outlook.