Twelve Points Wealth Management LLC recently grew its position in Cleveland-Cliffs Inc. by 15.1%, reaching a total investment valued at $1.97 million. According to an SEC filing, the firm purchased an additional 33,964 shares, bringing its total holdings to 259,463.
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Twelve Points Wealth Management LLC Has $1.97 Million Position in Cleveland-Cliffs Inc. $CLF
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Key Takeaways:
- The fund increased its stake in Cleveland-Cliffs by 15.1%.
- The position is now valued at $1.97 million.
- An additional 33,964 shares were purchased.
- Twelve Points Wealth Management LLC holds a total of 259,463 shares.
A Notable Increase in Cleveland-Cliffs Holdings
Twelve Points Wealth Management LLC revealed in its most recent filing with the Securities and Exchange Commission that it increased its stake in Cleveland-Cliffs Inc. by 15.1% during the second quarter. This move underscored the firm’s growing confidence in the mining company’s prospects.
Details from the SEC Filing
According to the filing, the investment fund acquired an additional 33,964 shares of Cleveland-Cliffs, bringing its total holdings to 259,463 shares. The overall position is valued at approximately $1.97 million, reflecting a substantial commitment to the American mining firm.
Implications of the Investment
Although the filing does not elaborate on the fund’s broader strategy, the increase in Cleveland-Cliffs shares is notable for reflecting a heightened interest in the company’s performance. By expanding its holdings so significantly, Twelve Points Wealth Management LLC signals that it views Cleveland-Cliffs Inc. as a valuable asset in its portfolio.
