Rivian Sees Institutional Support Amid Competition from Chinese Automakers

Institutional investors added over 70 million shares of Rivian Automotive Inc. (RIVN) in the second quarter of this year.

According to a report, 417 holders increased their positions in the EV maker by a combined 106,424,812 shares, while 318 investors reduced their holdings by 31,005,657 shares.

The automaker had a total of 941 institutional holders, including Amazon.com Inc. (AMZN), which held 158,363,834 shares worth around $2.3 billion.

Investment firm D.E. Shaw purchased 12,203,342 shares, representing a 141% increase in its Rivian holdings during the quarter.