During the time Tianqiao Chen (left) and Wellington were buying big into CHS this year, the company's stock was trading for less than $20 a share. It closed Friday at $10.21 after trading a year ago for $60 a share.
Tianqiao Chen-controlled companies bought another $1.6 million worth of Community Health Systems stock, bringing his effective ownership to 25.9 million shares, or 23% of all outstanding stock.
It is unclear what the Chinese investment manager's intentions are with his holdings, which are approaching one-quarter of the company. He has indicated in the past that he was not going to take an activist role with his various investment vehicles, which operate under the Shanda moniker.