HEDGE fund bosses have bought up five million shares in Rangers.
Laxey formerly owned more than eight million shares in the Ibrox club but, as of last week, have increased their pot to more than 13m.
This gives Laxey Partners a 16% share of the club.
Last Wednesday the Evening Times told of fan's fury after shares in Rangers dropped to a record low.
More than £2million was wiped from the club's value in a day.
Fresh financial fears were raised as shares in the club closed at 19p, dipping as low as 18.5p before close of business last Tuesday.
In January, the share price was 31p.
The crash wiped 73% off the holdings of fans and investors who bought into the share offer of December 2012 when they were on offer for 70p.
In March Rangers cancelled a controversial £1m loan agreement with Laxey Partners in favour of a cheaper deal with another shareholder.
Laxey transferred the credit facility to George Letham after criticism of the original deal.
Lazey Partners has increased its share amount from 8,292,957 to 13,299,415.
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