Sumitomo Mitsui Trust Group Inc. reduces stake in Morgan Stanley
1 report, 1 independent
Updated 00:00
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What happened
Sumitomo Mitsui Trust Group Inc. reduced its stake in Morgan Stanley by 3.1% during the third quarter, according to its recent 13F filing with the Securities and Exchange Commission. The firm sold 78,398 shares, leaving it with approximately 2,424,526 shares of the investment bank's stock. Other institutional investors have also recently bought or reduced their positions in Morgan Stanley.
From themarketsdaily.com
Why it matters
The reduction in holdings by a major institutional investor reflects shifts in institutional investment flows toward the financial services provider. The firm currently holds about 0.15% of Morgan Stanley, valued at $456,005,000, as of the latest filing.
From themarketsdaily.com
Who's involved
- Morgan StanleyU.S. investment bank whose stock holdings were reduced
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The entities involved
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Morgan Stanley
U.S. investment bank