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Fidelity And T. Rowe Price Pump Brakes On Fast-Rsing Tesla:

TedTed
in Fund Discussions
FYI: op Tesla Inc (TSLA.O) investors Fidelity Investments and T. Rowe Price cut their holdings in the second quarter and indicated they were taking profits from the electric car maker stock, which is up 65 percent this year.

Sellers included Fidelity funds like Fidelity OTC Portfolio, which sold 1.62 million shares, or 43 percent of its position during the quarter, as well as funds managed by T. Rowe Price Group (TROW.O), including T. Rowe Price Growth Stock Fund (PRGFX.O), which sold 1.33 million shares during the quarter or 48 percent of its position, recent securities filings show.
Regards,
Ted
http://www.reuters.com/article/us-tesla-funds-idUSKCN1AY14B

Comments

  • slick
    I just checked one of my more aggressive growth funds MSEGX, and it too sold out over 2/3 of its holdings in tesla. It used to be in top 5 holdings.
  • AndyJ
    Considering that it's up ~ 65% ytd, I'd say it's about time to take some profits. Sorry I missed the run - was waiting for it to dip below $200 ~ Feb, and it never did.
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