In a recent Form 13F-HR filed with the U.S. Securities and Exchange Commission, Chicago, Illinois-based investment manager Guggenheim Capital, LLC disclosed that it trimmed its stake in licensed Canadian cannabis producer Aphria Inc. (TSX:APHA) (NASDAQ:APHA) (FRA:10E).
This sale comes as no surprise as the COVID-19 pandemic was pummeling markets, forcing many investors to liquidated some non-core holdings in a flight to cash and safe haven hedges, compounded by the fact that shares of APHA were sliding from their strong start to 2020.
Unfortunately for Guggenheim Capital, LLC though, this sale came ahead of Aphria’s highly anticipated move from the NYSE to the NASDAQ as well as the company’s recent participation in the Stifel 2020 Virtual Cross Sector Insight Conference, thereby potentially missing out on the correlated rebound in share price that accompanied these catalysts.
With an estimated over $13 billion in assets under management as of a recent filing, Guggenheim Capital’s recent sale of 7,344 shares of APHA amounts to just a tiny drop in the bucket for the firm. That said Guggenheim Capital, LLC was still holding 11,339 shares of APHA after trimming its position.
We’ll continue to monitor 13F filings to see what institutional investors like Guggenheim Capital are up to. In the meantime, be sure to subscribe to updates here so you never miss an important update.
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