We are seeing a substantial move in shares of Washington Mutual, Inc. (NYSE: WM).  British Activist fund Toscafund Asset Management LLP  has disclosed in an SEC Filing that it has accumulated a 6% stake with a position of 105,500,028 shares.

This is being listed as a  passive stake in the company.  At least that is the case for now.

We’ve seen over 100 million shares trade and shares are up 19% at $5.66 today.  Its 52-week trading range is $3.03 to $39.25.

Jon C. Ogg
July 31, 2008