Highbridge Capital Management has upped its stake in amusement park operator Six Flags, buying an additional 400,000 shares in recent weeks.
New York-based Highbridge holds 2.5 million shares of common stock and convertible bond holdings, worth a combined $40 million, according to January 11 filings made with the U.S. Securities and Exchange Commission. Highbridge's convertibles in Six Flags mature in 2015 and bear a coupon rate of 4.5%.
Highbridge, a $7.4 billion hedge fund firm owned by JPMorgan Chase, is one of the largest shareholders in Six Flags. At the beginning of last year's fourth quarter, only one