Abu Dhabi’s sovereign-wealth fund Mubadala Investment recently sold 3 million shares of Virgin Galactic.
Courtesy of Virgin Galactic
One of Virgin Galactic Holding’s largest shareholders, Abu Dhabi sovereign-wealth fund Mubadala Investment, reduced its stake in the aerospace and space-travel company.
Virgin Galactic (ticker: SPCE) stock has rocketed 28.2% so far in January, boosted by buzz for the sector after Cathie Wood’s ARK Invest filed documents to start a new space exchange-traded fund. In comparison, the S&P 500 index, a measure of the broader market, has only eked out a 0.3% gain in the new year.
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Mubadala reduced its investment to 11.8 million Virgin Galactic shares, a 5.04% stake, as of Jan. 14, from 14.9 million shares, a 7.08% stake, as of Aug. 7. It remains Virgin Galactic’s third-largest holder, according to S&P Capital IQ. The fund disclosed the reduced investment in a filing with the Securities and Exchange Commission.
Mubadala didn’t respond to a request for comment on the stock sale.
Barron’s has noted continuing speculation that ARK Invest’s planned ETF would buy Virgin Galactic shares.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at [email protected] and follow @BarronsEdLin.
