Medallion Financial Corporation's (NASDAQ: [[TAXI]]) largest institutional investor, Dimensional Fund Advisors, LP (DFA) sold its entire position, a 5% stake, according to a 13G filed on Thursday, February 5, 2015. There has been confusion among interested parties about the 13G Amendment filing by DFA. A 13D and its abbreviated version 13G are SEC filings instantly recognized by many as the documents through which funds disclose accumulation of at least 5% of the outstanding shares of a security. But the same filings are required when a fund crosses the 5% ownership threshold on the SALE of shares. The LATTER occurred in this case, with DFA having fully sold out of its 5% position in Medallion Financial Corp. as of . DFA had been the largest institutional holder of TAXI shares.
DFA's Investment Approach
Dimensional takes the approach of eliminating human emotion from investment decision-making, never seeking to market-time,…