Royal Bank Boosts Stake in Mexican Multinational

Royal Bank of Canada has increased its stake in Fomento Economico Mexicano S.A.B. de C.V., a Mexican multinational company, by 3.2% during the first quarter.

The fund now owns 6,218,709 shares, which is about 1.80% of the company's stock and valued at $690,649,000 at the end of the reporting period.

This is not an isolated incident; several other institutional investors have also bought or increased their stakes in Fomento Economico Mexicano during the first quarter, including Northwestern Mutual Wealth Management Co. and Tower Research Capital LLC TRC.