Written by Cláudio Afonso | LinkedIn | X
Global X Lithium & Battery Tech ETF (LIT) has filed a new form revealing that it has cut its stake in the electric vehicle (EV) manufacturer Lucid Motors by 7 percent after selling nearly 664,000 shares.
Based on the closing price last Friday, the present value of the ETF’s position in Lucid stands at $25.4 million.
As of today, the EV maker has a total of 714 institutional shareholders holding 1,662,877,809 shares with the Public Investment Fund from the Saudi Arabia being its most significant shareholder and partner.
As of the end of April, the ETF owned 8,675,835 shares valued at approximately $22.1 million. In the first quarter of the year, the fund had added 2.83 million shares taking its holdings to a new record of 9,339,785 shares.
| File Date | Effective Date | Reported Shares | Shares Change | Shares (%) | Reported Value (x1000) | Value (%) |
|---|---|---|---|---|---|---|
| 2024-07-01 | 2024-04-30 | 8,675,835 | -663,950 | -7.11 | 22,123 | -29.92 |
| 2024-04-01 | 2024-01-31 | 9,339,785 | 2,831,667 | 43.51 | 31,568 | 17.73 |
| 2023-12-29 | 2023-10-31 | 6,508,118 | -885,987 | -11.98 | 26,813 | -52.35 |
| 2023-09-29 | 2023-07-31 | 7,394,105 | 797,872 | 12.10 | 56,269 | 7.44 |
| 2023-06-29 | 2023-04-30 | 6,596,233 | -204,913 | -3.01 | 52,374 | -34.12 |
| 2023-03-31 | 2023-01-31 | 6,801,146 | 6,801,146 | — | 79,505 | — |
The ETF initially entered a position in Lucid in the first quarter of 2023 by acquiring around 6.8 million shares, an investment totaling $79.5 million.
Since then, it has actively managed its holdings, with the most recent transaction reflecting a reduction of over 660,000 shares or 7.11% of its previous position.
In addition to Lucid Group, the Global X Lithium & Battery Tech ETF maintains significant positions in other major players within the EV and battery sector.
The fund holds 350,576 shares of Tesla, valued at over $88 million, and nearly 2.01 million shares in BYD, valued at more than $63 million. Companies like LG Energy Solution, TSD and Samsung SDI are also among the top holdings of the fund.
The Global X Lithium & Battery Tech ETF is designed to capture the full lithium cycle, encompassing activities from mining and refining lithium to the production of batteries, reflecting its comprehensive investment strategy within the evolving battery technology and electric vehicle market.
Roger Atkins, Founder of “Electric Vehicles Outlook” and one of the most respected voices in the EV industry, shared on LinkedIn that Lucid Motors CEO Peter Rawlinson will be interviewed by him at the Goodwood Festival of Speed (FoS) later this week.
In 2022, Lucid’s sedan, the Air Grand Touring Performance, was named the fastest production car in the Hillclimb Timed Shootout at the event, marking its first public appearance.
In an email sent last week, the company announced that was introducing a new leasing incentive of $7,500 Air Credit for customers in the United States. This offer is in addition to the existing $4,000 bonus available for inventory vehicles.
Last month, the company offered an Air Credit that was 50 percent lower ($3,750) for new customers in the country, while the inventory bonus was $1,000 higher, at $5,000.
The EV maker is expected to publish the second-quarter production and delivery numbers over the next few days.
Written by Cláudio Afonso | LinkedIn | X
NEVER MISS AN UPDATE
The post Lucid: Global X Lithium ETF Sells 664,000 Shares, Cuts Stake by 7% first appeared on EV.