Bridgewater Advisors Inc. Buys into Royal Bank of Canada with $1.8 Million Stake

Bridgewater Advisors Inc., a financial services company, has made a new investment in Royal Bank of Canada (RY). The firm purchased 8,531 shares of RY's stock valued at approximately $1,796,000 in its most recent 13F filing with the SEC.

This is not the only major investment in RY, as several other institutional investors have also bought and sold shares. Norges Bank acquired a new position in Royal Bank of Canada during the fourth quarter worth $3,472,382,000. Alberta Investment Management Corp bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at $324,237,000.

As for Bridgewater Advisors Inc., this is their first reported investment in RY, and it indicates that they have a high level of confidence in the financial services provider's prospects. RY has been performing well lately, with its quarterly earnings per share beating analysts' consensus estimates by $0.03.