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RBC Sells Off Millions in Magnolia Oil & Gas Amid Market Shift

Guavy AI Editorial Team
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CAD
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Royal Bank of Canada recently reduced its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by selling 58,565 shares during the first quarter.

The bank's most recent 13F filing with the Securities and Exchange Commission shows that it now owns 100,559 shares of the company's stock, which is approximately 0.05% of Magnolia Oil & Gas' total value of $6.22 billion.

This reduction in stake comes after several other institutional investors have recently added to or reduced their stakes in the company, with Valued Wealth Advisors LLC acquiring a new stake worth around $29,000 and Salomon & Ludwin LLC boosting its holdings by 130.1% in the fourth quarter.

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