Royal Bank of Canada Bolsters Stake in International Shipping Firm Torm Plc
Royal Bank of Canada has significantly increased its stake in Torm Plc (NASDAQ:TRMD), purchasing an additional 34,482 shares in the first quarter. This brought their total holdings to 70,962 shares, accounting for 0.07% of the company's stock and worth $1,980,000 as per their most recent SEC filing.
This move is part of a broader trend of institutional investors increasing their positions in Torm. Other notable investors include Universal Beteiligungs und Servicegesellschaft mbH, Lazard Asset Management LLC, Public Employees Retirement System of Ohio, Norges Bank, and Sei Investments Co., who have all purchased new stakes in the company.
Torm's stock price has been relatively stable, with a 50-day simple moving average of $29.07 and a two-hundred day simple moving average of $28.84. The company's market capitalization stands at $3.12 billion, and it boasts a low beta of 0.09.