Long-term shareholders and proxy voters face slightly diminished institutional influence and portfolio weight after large asset managers trimmed positions in bns stock during the third quarter, Thursday at 9: 00 a. m. ET, in filings that name Korea Investment CORP among the sellers.
Korea Investment CORP and Mufg Securities Canada LTD. Cuts Hit Share Concentration
In its most recent 13F filing with the Securities and Exchange Commission (SEC), Korea Investment CORP decreased its holdings in Bank of Nova Scotia by 9. 1% in the third quarter, selling 79, 730 shares and leaving the firm with 800, 578 shares valued at $51, 778, 000. Mufg Securities Canada LTD. cut its stake by 2. 6% in the same period, selling 55, 602 shares and holding 2, 055, 946 shares of the bank worth $132, 925, 000; the bank represented 3. 7% of Mufg’s portfolio and ranked as its ninth-largest holding.
Bns Stock Holdings Reduced by Grantham Mayo Van Otterloo & Co. LLC
Grantham Mayo Van Otterloo & Co. LLC reduced its position in Bank of Nova Scotia by 6. 1% in the third quarter, selling 48, 810 shares and retaining 752, 514 shares valued at $48, 661, 000 in its SEC filing. These filings together changed holdings of bns stock across several funds and reflect active rebalancing among institutional owners.
Canerector Inc., Norges Bank and JPMorgan Chase & Co. Drive Rebalancing of Ownership
At the same time, several institutions increased exposure: Canerector Inc. raised its holdings by 8, 899. 0% in the third quarter to 26, 997, 000 shares valued at $1, 745, 356, 000 after purchasing an additional 26, 697, 000 shares. Norges Bank established a new stake in the bank valued at about $838, 738, 000, and JPMorgan Chase & Co. expanded its position by 83. 4% to 13, 148, 255 shares valued at $726, 704, 000 after adding 5, 979, 338 shares. CIBC Asset Management increased to 9, 800, 305 shares worth $635, 730, 000 after buying 3, 007, 407 shares, and OMERS ADMINISTRATION Corp raised its stake to 3, 062, 126 shares valued at $168, 984, 000 following a 555. 8% increase.
If institutional trimming continues, concentration among the largest holders would likely fall further in the next quarterly 13F filings.
