Hedge fund, Appaloosa Management, has raised its stakes in U.S. banks to a total of $1.23 billion, The Wall Street Journal reports. The fund now holds a Citigroup stake worth $576.9 million, JP Morgan Chase stake worth $25.2 million and Bank of America share with a value of $373.3 million.

The New Jersey-based fund has also raised its stake in Wells Fargo to 7.5 million common shares and 335,482 preferred shares. The hedge fund has decreased its stake in Fifth Third Bancorp and Capital One Financial.

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