An US fund Harris Associates has increased it stake in Bank of Ireland after taking its shareholding in the lender to over 6 per cent.
In a statement Chicago-based Harris Associates said it purchased the additional 826 902 shares on November 19th. Bank of Ireland shares closed at €1.05 that day.
Bank of Ireland Asset Management now holds the second-largest stake of 3.15 per cent followed by US fund Capital Research American Fund.
Bank of Ireland shares opened 4.5 per cent higher in Dublin today, rising to €1.38. Over the last 12 months Bank of Ireland shares have fallen by 86 per cent.
Last year David Herro, Harris chief investment officer said the fund were "long-term value investors" in the bank.
Harris is best known in the UK for orchestrating an investor revolt in 1995 that resulted in the removal of the Saatchi brothers from the advertising business they founded.
