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Stock up after loss of investor

Friday, July 19, 2002 | 11:08 a.m.

ATLANTIC CITY -- Bay Harbour Management LC, which ranked as the second-largest outside shareholder at Trump Hotels & Casinos Resorts Inc., reported that it no longer owns stock in the casino owner run by Donald Trump.

Bay Harbour, an investment firm headed by Douglas Teitelbaum and Steven Van Dyke, ceased to own any Trump Hotels stock as of the end of December, according to a filing with the Securities and Exchange Commission. Bay Harbour, which had owned a 6.3 percent stake, or 1.4 million shares, used an SEC form for passive investors that doesn't require transactions to be detailed.

Stock in Atlantic City-based Trump Hotels has more than doubled this year, gaining 18 cents Thursday to $2.52. The company owns the Taj Mahal, Trump Marina and Trump Plaza in Atlantic City, and a riverboat casino in Indiana.

Donald Trump has been buying stock in his namesake company this year, purchasing 275,400 shares in April and 305,000 in June, according to the Washington Service, which tracks trading by company insiders.

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