Written by Cláudio Afonso | LinkedIn | X
In the first quarter of the year, Morgan Stanley significantly increased its stake in electric vehicle (EV) maker Nio, boosting its holdings from 18.1 million to 28.2 million shares and setting a new record for ownership.
However, with the sale of 12,459,002 shares between April and June, Morgan Stanley reduced its position by 44%, as reported in its latest 13F filing to the U.S. Securities and Exchange Commission.
This sale marks the largest share reduction in the past five and a half years, surpassing the company’s disposal of 11.39 million shares in late 2018.
The addition of 10,112,214 shares in the first three months of the year represented one of the firm’s largest purchases since it first acquired Nio shares shortly after the company’s initial public offering (IPO).
Despite oscillations in its stake over the past five and a half years, Morgan Stanley maintained an overall upward trend, reaching 28.2 million shares by the end of March 2024.
In early 2022, institutional ownership of Nio peaked, with nearly 600 million shares held by institutional investors as the stock traded between $20 and $30 per share.
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According to Fintel, Nio’s institutional shareholders now hold about 297 million shares, meaning a 50% decline.
As reported earlier this week, the world’s largest asset manager, BlackRock, sold 2,169,285 shares reducing its stake by 3.46% in the second quarter.
Citi Group added 994,093 Nio shares in the second quarter, increasing its holdings by 67% from the first quarter.
As reported earlier today, Goldman Sachs significantly reduced its stake in the company selling nearly 5.56 million shares during the second quarter.
The company delivered 20,498 vehicles last month and its year to date deliveries are up nearly 44% from last year. In late September, the group will deliver the first units of the family-oriented SUV L60, the first model under the sub-brand Onvo.
As reported earlier this week, Geode Capital Management, Fidelity’s index fund arm, added 232,135 additional Nio shares during the second quarter, bringing its total holdings to 7,885,425 shares.
Written by Cláudio Afonso | LinkedIn | X
