Great West Life Assurance Co. Can has raised its stake in Tesla, Inc., increasing its ownership of the electric vehicle producer’s stock by 7.3% during the second quarter of this year. This information was revealed in the company’s latest Form 13F filing with the Securities and Exchange Commission. The institutional investor now holds 2,180,460 shares of Tesla, making it the sixth largest holding in its portfolio.
With this acquisition, Great West Life Assurance now owns approximately 0.07% of Tesla, which is worth $573,680,000. However, it is important to note that Tesla represents only 1.4% of the company’s overall holdings. Great West Life Assurance is not the only investor showing interest in Tesla. Various hedge funds and other institutional investors have also recently bought and sold shares of the electric vehicle manufacturer.
The increase in investment from Great West Life Assurance Co. Can demonstrates growing confidence in Tesla’s future prospects. As Tesla continues to dominate the electric vehicle market, investors are beginning to recognize the potential for long-term growth and profitability.
Frequently Asked Questions (FAQ)
1. What is the significance of Great West Life Assurance Co. Can’s increased investment in Tesla?
Great West Life Assurance Co. Can’s increased stake in Tesla shows growing confidence in the electric vehicle producer’s future prospects. It reflects the belief that Tesla will continue to dominate the market and generate substantial returns for investors.
2. Are there any other investors showing interest in Tesla?
Yes, apart from Great West Life Assurance Co. Can, several hedge funds and institutional investors have also recently bought and sold shares of Tesla. This further highlights the growing appeal of Tesla as an investment opportunity.
3. What does this investment mean for Tesla?
The increased investment from Great West Life Assurance Co. Can is an indication of growing investor confidence in Tesla’s potential for long-term growth and profitability. It provides Tesla with additional capital and support, which can be used for research and development, production expansion, and other strategic initiatives.