T. Rowe Price lowers stake in Tesla
T. Rowe Price has cut down its stake in Tesla Inc. to 5.2%, or 8.977 million shares, according to a filing Monday. The institutional investor held a 10.1% stake, or 17.38 million shares, at the end of September, the latest reporting period, according to FactSet. T. Rowe Price also tweaked higher its stake in Tapestry Inc. , formerly Coach, to 10% from 9.9%, and lowered its stake in Canada Goose Holdings Inc. to 10.2% from 12.4%, among other changes. Tesla shares rose 3.3% in midday trading Monday and are 1.8% higher in the past 12 months, which compares with gains of 3.5% for the S&P 500 index. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.