Giant Public Pension Fund Doubled its Tesla TSLA Position in Q1 2021

Giant Public Pension Fund Doubled its Tesla TSLA Position in Q1 2021

The Public Sector Pension Investment Board of Montreal halved its AT&T stake in Q1 2021 and nearly doubled its investment in Tesla (NASDAQ: TSLA).

The Public Sector Pension Investment Board of Montreal has disclosed the transactions in a form filed with the Securities and Exchange Commission. As of March 31, the investment board had over $140 billion in assets under management.

By the end of March, the agency had sold 963,848 shares of AT&T and closed the quarter with 677,727. An additional 44,860 Tesla shares were purchased instead, according to Barron's. At the end of Q1, the pension fund held 104,410 shares of the California manufacturer. Tesla shares fell 5.3% in Q1 2021, which was an excellent reason to buy them.

Despite the fact that Tesla's share price has dropped since its January highs, this is temporary. In Q1 and at the moment, Tesla is facing several headwinds. However, they all have only a temporary impact, which should decrease over time. The company has demonstrated that despite the shortage of chips, and the delay in the production of the updated Model S and X, it is able to manufacture and sell a huge number of Model 3 and Y and achieve growth in the deployment of its other products.

© 2021, Eva Fox. All rights reserved.


We appreciate your readership! Please share your thoughts in the comment section below.

Legal Disclaimer --

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.

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

Follow me on X

Reading next

A Huge Batch of Tesla Cars Arrived in Israel, Helping Secure 80% of EV Market Share
SpaceX Is Repurposing Oil Rigs To Build A Starship Spaceport That Will Be In Operation Next Year

Tesla Accessories