Forex
RBC Reduces Stake in UBS Group by Over a Third
Royal Bank of Canada (RBC) recently disclosed that it decreased its stake in UBS Group AG by 32.4% in the first quarter, selling 1,890,456 shares during this period. As a result, RBC owned 3,935,581 shares of UBS Group's stock after the sale.
The bank's stake in UBS Group is valued at approximately $153,763,000 based on its most recent filing with the Securities and Exchange Commission. This represents about 0.13% of UBS Group's total value.
Other hedge funds have also made changes to their positions in UBS Group recently. Compagnie Lombard Odier SCmA increased its holdings by 3.0%, while Pictet Asset Management Holding SA grew its stake by 1.8%. Leonteq Securities AG and US Global Investors Inc. both purchased new positions in the bank.