In a recent Form 13F-HR filed with the U.S. Securities and Exchange Commission, Madison, Wisconsin-based state retirement fund manager, the State of Wisconsin Investment Board disclosed that it trimmed a stake in cannabis mega-company Canopy Growth Corp. (NYSE:CGC) (TSX:WEED).
As you just read that the State of Wisconsin Investment Board, commonly abbreviated as SWIB, trimmed its position in Canopy stock, you’re probably shocked that they’re even investing some of the State of Wisconsin’s retirement fund in cannabis companies.
According to Bloomberg, “State of Wisconsin Investment Board operates as a state agency. The [State of Wisconsin Investment Board] invests the assets of the Wisconsin retirement system, the state investment fund, and other trust funds.”
With over $39 billion in managed 13F securities as of a recent filing and more than $128 billion in total assets under management as of the end of 2019, the State of Wisconsin Investment Board’s recent sale of 9600 shares of Canopy Growth Corp stock amounts to just a tiny trade for the firm.
After the sale, SWIB still had 135,400 shares of CGC – worth approximately $2,996,402 at Friday’s closing bell.
Alongside SWIB’s filing, New York City-based hedge fund Sculptor Capital also disclosed some changes to its position in CGC stock.
We’ll continue to monitor 13F filings to see what institutional investors are up to. In the meantime, be sure to subscribe to updates here so you never miss an important update.
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