CPP Takes $2.28 Billion Stake in Royal Bank of Canada

Canada Pension Plan Investment Board (CPP) has significantly increased its stake in Royal Bank of Canada (RY). The investment fund acquired approximately $2.28 billion worth of RY shares during the second quarter, with a total of 11 million shares bought.

This move makes RY the 14th largest holding in CPP's portfolio, accounting for about 1.3% of its investments.

Other institutional investors and hedge funds have also increased their stakes in RY, including Legal & General Group Plc, The Manufacturers Life Insurance Company, Jones Financial Companies Lllp, Peak Asset Management LLC, and Cullen Capital Management LLC.