Written by Cláudio Afonso | LinkedIn | X
Jane Street Group disclosed in its quarterly 13F form with the SEC that increased its position in the electric vehicle (EV) maker Lucid Motors during the second quarter of the year. Earlier this year, the Group nearly offloaded its entire position in Lucid.
As of the end of June, the global proprietary trading firm was holding 1,067,529 shares in the company valued at $3.46 million based on Tuesday’s closing price of $3.24 per share.
The firm has been investing in Lucid since its initial public offering in late 2021 with its holdings reaching a record of roughly 4.33 million shares in the last quarter of 2023. Since then, it has drastically reduced its position by 82.6% in the first three months of 2024 to 753,996 shares.
Additionally, Jane Street significantly scaled back its bearish position on the stock in the second quarter, slashing its put option holdings by 78.87%.
The firm reduced its exposure from 6.18 million shares to 1.31 million shares, with the value of these options plunging 80.65%, from $17.63 million to $3.41 million.
As of Wednesday, Lucid has 697 institutional shareholders holding 1,659,783,024 shares, more than 71% of the outstanding shares.
The company’s largest shareholder is Saudi Arabi’s Public Investment Fund which owns 1,652,848,941 shares, more than 60% of the company, per Fintel data.
Written by Cláudio Afonso | LinkedIn | X
