The Manufacturers Life Insurance Company recently cut its stake in Alamos Gold Inc. by over fourteen percent, selling more than 290,000 shares. The 13F filing submitted to the SEC reflects a shift in the institutional investor’s holdings, valued at nearly $46.25 million.
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The Manufacturers Life Insurance Company Has $46.25 Million Stock Position in Alamos Gold Inc. $AGI
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Key Takeaways:
- Manulife lowered its Alamos Gold stake by 14.5%.
- The share reduction was disclosed in a 13F SEC filing.
- 291,274 shares were sold during the first quarter.
- Manulife now holds 1,721,493 shares in Alamos Gold.
- The remaining position is valued at approximately $46.25 million.
Introduction
The Manufacturers Life Insurance Company, commonly referred to as Manulife, has announced a reduction in its investment in Alamos Gold Inc. This news comes from the company’s most recent 13F filing, highlighting a significant change in its portfolio allocation.
Stake Reduction Details
According to the filing, the institutional investor reduced its stake in Alamos Gold by 14.5% in the first quarter. During this period, Manulife sold 291,274 shares, indicating a notable shift in its holdings of the basic materials company.
Remaining Position
Despite this substantial selloff, Manulife still retains a sizable interest in Alamos Gold. The 13F filing shows that it now owns 1,721,493 shares, representing a stock position valued at $46.25 million.
Conclusion
This move underscores the dynamic nature of institutional investments in the precious metals sector. While Manulife has scaled back its stake in Alamos Gold, its continued position indicates ongoing engagement with the company as part of its broader financial strategy.
