market folly

Jamie Dinan's hedge fund York Capital has filed an amended 13D with the SEC regarding their position in Gilat Satellite Network (GILT).  Per the filing, York now owns 2.9% of the company with 1.23 million shares.

This means they've reduced their position size by over 3.9 million shares since the end of the third quarter.  The filing was required due to activity on November 29th and notes that they tendered their shares into FIMI's tender offer.

For more on this fund, we recently posted up Jamie Dinan's stock picks from Capitalize For Kids Sohn Canada conference.

Per Google Finance, Gilat Satellite Network is "a provider of Internet protocol (IP)-based digital satellite communication and networking products and services. Gilat designs, produces and markets very small aperture terminals (VSATs) and related network equipment, such as power amplifiers and antennas."

Be sure to also check out Dinan's rules of investing.