Written by Cláudio Afonso | LinkedIn | X
Fidelity’s Small Cap Index Fund has filed a new form revealing that it has increased its stake in the electric vehicle (EV) manufacturer Nikola Corporation by 16.50 percent.
According to the filing, the fund acquired 1,038,350 shares in April and has been adding Nikola shares nearly every quarter since early 2022.
Nikola shares surged 16.69 percent on Monday closing at $10.49 following the recently announced second quarter delivery numbers that beat analysts’ expectations. Based on Monday’s closing price, the present value of the Fidelity’s position in Nikola stands at $76.70 million.
| File Date | Effective Date | Reported Shares | Shares Change | Shares | Value (x1000) |
|---|---|---|---|---|---|
| 2024-06-28 | 2024-04-30 | 7,311,118 | 1,038,350 | 16.55% | 4,537 |
| 2024-03-27 | 2024-01-31 | 6,272,768 | 276,748 | 4.62% | 4,688 |
| 2023-12-29 | 2023-10-31 | 5,996,020 | 701,395 | 13.25% | 6,476 |
| 2023-09-25 | 2023-07-31 | 5,294,625 | 2,366,628 | 80.83% | 14,137 |
| 2023-06-27 | 2023-04-30 | 2,927,997 | 119,518 | 4.26% | 2,593 |
| 2023-03-27 | 2023-01-31 | 2,808,479 | 247,474 | 9.66% | 7,611 |
Fidelity’s Small Cap Index Fund includes 1,957 holdings, with SuperMicro Computer Inc., Microstrategy, and Carvana among its top 10 holdings. The Fund added its first shares on the manufacturer back in mid-2021 when it bought 1,466,569 shares.
As of today, the company has a total of 415 institutional shareholders holding 341,400,898 shares with the Vanguard Group and BlackRock Inc. being among the largest shareholders holding 80.2 million and 63.5 million shares, respectively.
Earlier this year, institutional ownership reached a new record high with institutions holding more than 450 million shares, according to data from Fintel.
Later this week, the company will host a hiring event at its factory in Coolidge, Arizona, as part of its expansion plans.
“Nikola is expanding! We are looking for some great people to be part of the future of zero-emissions transportation. If you have an interest in production assembly work, we want to meet you!” the company stated on its website.
Nikola is also seeking more deals to supply its electric trucks. Wayfair is testing Nikola’s trucks in California, according to Anna Vinogradova, Head of Global Sustainability and ESG at Wayfair.
“Wayfair is piloting heavy-duty EV trucks with WattEV, Inc. in California. We’re testing these vehicles for more sustainable middle-mile deliveries and evaluating the operational impacts of switching from diesel to electric trucks,” Vinogradova said.
Last Thursday, Nikola announced that Walmart Canada has integrated the first Nikola hydrogen fuel cell electric semi-truck into its fleet. Walmart Canada is the first retail fleet in North America to operate a hydrogen fuel cell electric truck.
In a new interview for the “Future Says” podcast, Nikola’s Global Head of Supply Chain Management, Pedro Garcia, anticipated that additional safety regulations will be implemented, necessitating industry-wide compliance and adaptation.
Written by Cláudio Afonso | LinkedIn | X
