Royal Bank Boosts Stake in Hawaiian Electric Industries Amid Increased Hedge Fund Interest

According to its recent SEC filing, Royal Bank of Canada significantly increased its stake in Hawaiian Electric Industries (HE) by 63% during the first quarter. The bank acquired an additional 116,622 shares of HE's stock, bringing its total holdings to 301,769 shares as of the latest filing.

These new shares are worth approximately $4.478 million, representing about 0.17% of Hawaiian Electric Industries' outstanding shares. Royal Bank of Canada is not the only institution that has increased its stake in HE recently; other hedge funds have also shown interest in the company's stock.

Caitong International Asset Management Co. Ltd., for example, increased its position in HE by a staggering 199,800% during the fourth quarter, while Northwestern Mutual Wealth Management Co. boosted its holdings in HE by 142.2% during the third quarter.