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T. Rowe Cut Tesla Stake by Almost Half During Fourth Quarter
- Position in electric-car maker fell to 5.2% from 10.2%
- Tesla’s shares rose almost 26 percent during the period
A Tesla Inc. Model S electric vehicle.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
T. Rowe Price Group Inc. sold almost half of its stake in Tesla Inc. during the fourth quarter, according to a regulatory filing.
The Baltimore-based money manager held 8.98 million Tesla shares, equaling 5.2 percent of the electric-car maker’s common stock outstanding at the end of December, according to a filing with the U.S. Securities and Exchange Commission. The fund group reported in a prior filing that it held a 10.2 percent stake, comprised of 17.4 million shares, as of Sept. 30.