Written by Cláudio Afonso | LinkedIn | X
Swiss bank UBS disclosed in its latest 13F filing to the U.S. Securities and Exchange Commission that increased its stake in electric vehicle (EV) maker Nio by 39.6% in the second quarter, purchasing 1,622,827 shares.
As of June 30, the Swiss bank held over 5.72 million shares, marking a new record since it opened a position in the company back in 2018. The increase follows UBS trimming its position by nearly 1 million shares in the first quarter, selling around the $6-$7 range.
The last time UBS held a similar position was in late 2020, when it ended the year with roughly 5.26 million shares, as Nio’s stock surged above $40 before reaching an all-time high of $66.99 in January 2021.
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Since then, the stock has lost 90% of its value and it is, as of the time of writing, trading at $4.05 per share.
According to Fintel, Nio’s institutional shareholders now hold about 297 million shares, meaning a 50% decline.
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.
As of today, and according to Fintel, the company has 616 institutional shareholders holding about 297 million shares.
On Tuesday, Nio will hold its annual event Nio Power Up — previously named Nio Power Day — where it will unveil new products regarding its battery charging and swapping infrastructure.
Written by Cláudio Afonso | LinkedIn | X
