Hedge Fund Reveals Larger Stake in Penn Traffic

SYRACUSE, N.Y. -- Distressed securities investor Bay Harbour Management has increased its stake in Penn Traffic here to 15.8%, the fund said in a government filing.

SYRACUSE, N.Y. -- Distressed securities investor Bay Harbour Management has increased its stake in Penn Traffic here to 15.8%, the fund said in a government filing. Funds associated with Bay Harbour most recently acquired about 175,000 shares of Penn Traffic stock on over-the-counter exchanges, according to Securities and Exchange Commission filings. Bay Harbour last year pushed for Penn Traffic to publicly report its financial results and condition.

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