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Medallion Financial Corp. Loses Its Largest Institutional Investor

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 December 31, 2014. 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,… Read More …