Investor Bought Up Moderna and Nvidia Stock. It Sold Salesforce and Sirius XM.

Text size

A large U.K.-based asset manager bought up Moderna and Nvidia stock in the fourth quarter.

Clement Mahoudeau/AFP via Getty Images

A large U.K.-based asset manager made big changes in its U.S. stock portfolio, buying names that outperformed last year, and selling those that had lackluster showings.

Royal London Asset Management significantly raised its investments in

Moderna

(ticker:

MRNA

), the producer of Covid-19 vaccines, and graphics-chip maker

Nvidia

(NVDA) in the fourth quarter. It slashed its positions in the software giant

Salesforce.com

(CRM) and satellite-radio firm

Sirius XM Holdings

(SIRI).

The asset manager disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission. RLAM declined to comment on the transactions. It managed $223 billion in assets as of Dec. 31.

RLAM bought 50,701 more Moderna shares to end the fourth quarter with 170,336 shares. Moderna stock soared 143% in 2021, compared with a 27% rise in the

S&P 500 index, but so far in 2022, shares have slipped 37% while the index is down 7%.

Moderna stock hit a 52-week intraday high of $497.49 in early August before beginning a long slide following the release of the company’s second-quarter report. Shares ended 2021 at $253.98, continuing their cold streak into January as the Supreme Court blocked the Biden administration’s vaccine mandate. Shares closed Friday at $159.47.

…..

Read More

Recommended For You

Leave a Reply