Magna Entertainment Corp. Chairman Frank Stronach pounced on the opportunity to purchase additional shares of the company stock when it hit a 52-week low this summer.

Stronach acquired 1,852,450 shares of Magna stock at prices between $3.40 and $4.92 per share during August and early September.

Stronach now holds 3,434,050 shares directly, and he shares in the direction of 2,831,200 Magna shares with his associate, Bergenie Anstalt, of Fair Enterprise Ltd. Following his recent purchases, Stronach owns, controls, and/or directs over 10-million shares of Magna Entertainment stock, including options.