South Korea's Sovereign Wealth Fund recently made big changes to some of its largest investments in U.S.-traded equities. One of these was the investment in Tesla (NASDAQ: TSLA), in which the firm further increased its stake.
Korea Investment Corp. has significantly increased its investment in electric vehicles by buying shares in NIO and Tesla, according to a form it filed with the SEC. The Korean fund acquired 152,400 additional Tesla shares, and completed Q4 2020 with 409,900 shares of the electric vehicle leader.
In 2020, Tesla stock saw unprecedented growth as the company continued to grow rapidly and take the lead in the EV market, while achieving its goals. The prospects of the campaign were highly appreciated by both retail investors and large investment firms and funds, which continued to buy up the manufacturer's shares throughout the past year.
Most Wall Street analysts believe that Tesla will continue to grow rapidly in 2021, which will lead to continued high interest in the manufacturer's shares.
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This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Eva Fox, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Eva Fox holds zero shares of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.