TeslaThe share price fell nearly 3 per cent on Tuesday, down nearly 10 per cent from its recent high, but that did not prevent institutional investors from continuing to buy the stock.
In a liquid market, the mentality of "buying on a bargain" persists, which is particularly evident in Tesla, Inc. shares.
Halfway through the third quarter, it is expected to be the first quarter of an across-the-board net inflow of Tesla, Inc. shares into institutions, with at least $100m in assets under management, since the fourth quarter of 2020. So far this quarter, institutions have bought a net of $7 billion in Tesla, Inc. shares.
Among these "bargain-hunting" Tesla, Inc. institutions is the Canadian Pension Plan Investment Board (CPPIB), whose position has increased by 617 per cent month-on-month and currently holds 330196 shares of Tesla, Inc., although this accounts for only a small portion of the fund's assets under management.
Australia-based Hyperion Asset Management also increased Tesla, Inc. 's stock position by more than 20 per cent. Tesla, Inc. 's stock now accounts for more than 15 per cent of the company's portfolio, which is more convincing than the Tesla, Inc. share allocation of about 10 per cent of Cathy Wood's Ark Innovation ETF (ARKK).