Tuesday, May 18, 2021 3:18:32 PM
New York Mellon Corporation's (NYSE:BK) U.S. investment bank has increased its holdings in NIO Inc. (NYSE:NIO) by 18.6%, according to a 13F filing by the bank.
Bank of New York Mellon held 3.29 million shares of Nio at the end of the March quarter, up from the 2.782 million shares it held at the end of the fourth quarter of 2020.
In terms of value, the bank held $128.16 million in shares at the end of the first quarter, compared to $135.614 million shares at the end of the fourth quarter.
Nio's shares, which ran up to a record high of $66.99 on Jan. 11, have had a tumultuous quarter amid market-wide weakness and concerns over stretched valuation.
In the first quarter, the stock was down about 20%. It has pulled back further in the quarter-to-date period. The lackluster run came despite a slew of positive news flow from the company, including strong quarterly results and deliveries for the first quarter.
Why It's Important: In late April, it was revealed that MEAG MUNICH ERGO, the investment arm of German reinsurer Munich Re, increased its Nio holdings.
It is also speculated that Tesla, Inc. (NASDAQ:TSLA) Cathie Wood's Ark Invest could add Nio to its portfolio.
Investment by institutional investors is considered smart money moving into an asset, and it is taken as a cue by retail investors to gauge the soundness of the investment option.
Recent NIO News
- NIO Inc. to Report Unaudited Second Quarter 2024 Financial Results on Thursday, September 5, 2024 • GlobeNewswire Inc. • 08/22/2024 09:30:19 AM
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- NIO Inc. Provides July 2024 Delivery Update • GlobeNewswire Inc. • 08/01/2024 09:30:11 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 07/09/2024 10:24:34 AM
- NIO Inc. Announces Management Change • GlobeNewswire Inc. • 07/05/2024 09:30:10 AM
- NIO Inc. Provides June and Second Quarter 2024 Delivery Update • GlobeNewswire Inc. • 07/01/2024 09:30:03 AM
- Cheche Group Announces Partnership with NIO Insurance Broker • PR Newswire (US) • 06/20/2024 11:30:00 AM
- GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More • IH Market News • 06/07/2024 12:09:15 PM
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- NIO Inc. Reports Unaudited First Quarter 2024 Financial Results • GlobeNewswire Inc. • 06/06/2024 10:10:50 AM
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- NIO Inc. Provides May 2024 Delivery Update • GlobeNewswire Inc. • 06/01/2024 09:30:59 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/24/2024 10:14:54 AM
- NIO to Hold Annual General Meeting on June 25, 2024 • GlobeNewswire Inc. • 05/24/2024 09:30:44 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/22/2024 10:06:28 AM
- NIO Inc. to Report Unaudited First Quarter 2024 Financial Results on Thursday, June 6, 2024 • GlobeNewswire Inc. • 05/22/2024 09:30:11 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 05/21/2024 08:28:12 PM
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- Tesla’s April Sales Down 18% in China, Amazon’s Multi-Billion Dollar Cloud Expansion in Singapore, and More News • IH Market News • 05/07/2024 11:44:00 AM
- NIO Inc. Provides April 2024 Delivery Update • GlobeNewswire Inc. • 05/01/2024 09:30:24 AM
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- NIO Inc. Files Its 2023 Annual Report on Form 20-F • GlobeNewswire Inc. • 04/09/2024 10:11:21 AM
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