Institutional Investors' Divergent Views on Lucid Group (LCID)

2024-03-12

Lucid Group (LCID) had garnered significant interest from both hedge funds and ETFs in the last quarter. Institutional investors showed a strong presence in the company, with a total of 496 hedge funds holding 1,790,353,041 LCID shares and 19 ETFs holding 12,129,179 shares.

Among the top institutional holders of LCID shares were the Public Investment Fund, Vanguard Group Inc, BlackRock Inc, State Street Corp, and Geode Capital Management, LLC. The Public Investment Fund emerged as the largest holder with a substantial 1,374,700,298 shares.

Throughout the quarter, 181 hedge funds were actively buying LCID shares, while 163 were selling. Noteworthy was the fact that 54 hedge funds had doubled down on their positions in LCID, signaling a prevailing bullish sentiment among certain investors. Conversely, 15 hedge funds opted to sell off at least 90% of their LCID shares, reflecting a bearish outlook on the stock.

In terms of optimism towards LCID, institutions such as Vanguard Group Inc, Balyasny Asset Management L.P., Millennium Management LLC, Bank of America Corp, and UBS Group AG stood out. On the contrary, institutions like Morgan Stanley, Invesco Ltd., First Trust Advisors LP, and Citadel Advisors LLC were among the more pessimistic investors.

The data, derived from sharkstracker.com, offers a data-driven insight into the market dynamics surrounding Lucid Group, shedding light on the diverse sentiments and actions taken by institutional investors towards the company.