U.S. Sells Another $570 Million of GM Stock

The U.S. Dept. of the Treasury says it reduced its holding in General Motors Co. by $570 million in September.

The department invested $51 billion to bail out GM in 2009, gaining 60.8% ownership in the company. Since then it has recovered $36 billion.

Treasury didn't say how many shares it sold or at what price. But in mid-September it had reduced its holding to 7.3%, or about 101 million shares then worth roughly $3.8 billion.

At Friday's closing price of $35.35, Treasury's remaining shares have a value of approximately $3 billion.