Hedge Fund Sells $29M in Stock

Mill Valley hedge fund SPO Advisory Corp. sold shares in Crown Castle International Corp. (NYSE: CCI) worth $29.04 million, according to a filing this week with the Securities and Exchange Commission.

The sale comes on top of more than $120 million in stock SPO Advisory sold last month in the Houston, Texas-based firm, which operates shared wireless infrastructure like cell phone towers.

SPO Advisory, located on Redwood Highway, sold 740,774 shares in Crown Castle at an average price of $39.20 apiece. In June, SPO Advisory sold stock worth $120.06 million. It still owns shares in Crown Castle worth about $1.3 billion, based on the stock's closing price of $39.51 Friday.

SPO Advisory, previously was known as Main Street Partners, is headed by Chairman and Managing Director John Scully.