By  on September 12, 2011

Gap Inc.’s second-largest institutional shareholder has jumped ship.

Asset management firm AllianceBernstein unloaded a total of 23.3 million shares of the retailer in July and August, according to a filing with the Securities and Exchange Commission. That leaves the investing firm with beneficial ownership of 1.1 million shares, or just 0.2 percent of those outstanding.

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