Paulson & Co. has cut its holding in International Seaways.
The John Paulson-led investment firm now owns 1.67 million shares in the tanker owner down from just over 2 million reported two months ago and the 2.9 million in mid-March.
The position is good for 5.7% of all outstanding shares.
The move drops Paulson & Co. to International Seaways fifth largest shareholder, behind Vanguard, Donald Smith & Co., Cyrus Capital Partners and leader Cobas Asset Management, with 4.2 million shares.
International Seaways closed up $0.37, or 1.9%, to $19.80 Monday.
The company posted a $10.9m profit in the first quarter, with earnings per share coming in at $0.42, in line with Wall Street expectations.
