In a recent Form 13F-HR filed with the U.S. Securities and Exchange Commission, the country’s largest public pension fund, California Public Employees Retirement System, a.k.a. CalPERS, disclosed that it trimmed its stake in the national chain of specialty hydroponic and organic garden centers, GrowGeneration Corp. (NASDAQ:GRWG).
After its recent sale, CalPERS still held a whopping 79,937 shares of GRWG according to the filing. That’s worth over $4,589,183 based on the last traded price of $57.41 per share.
With an over $129 billion in assets under management as of a recent Form ADV, CalPERS’ recent sale of 1,194 shares of GrowGeneration Corp. amounts to just a tiny bit of profit taking for the pension fund. It should still be seen as a bullish signal that CalPERS has a $4.5+ million stake in the company.
Just three days ago, GrowGeneration announced its acquisition of Grow Depot, a two-store chain in Auburn and Augusta, Maine, bringing the total number of GrowGen hydroponic garden centers in Maine to 5, and the total number of GrowGen locations nationwide to 42.
We’ll continue to monitor 13F filings to see what institutional investors are up to, so be sure to subscribe to our cannabis stock updates here. In the meantime, check out which marijuana stock the State of Wisconsin Investment Board just doubled down on.
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