(Bloomberg) -- T. Rowe Price Group Inc. sold almost half of its stake in Tesla Inc. during the fourth quarter, according to a regulatory filing.
The Baltimore-based money manager held 8.98 million Tesla shares, equaling 5.2 percent of the electric automaker’s common shares outstanding at the end of December, according to a filing with the U.S. Securities and Exchange Commission. The fund group reported in a prior filing that it held a 10.2 percent stake, comprised of 17.4 million shares, as of Sept. 30.
Tesla shares rose almost 26 percent during the fourth quarter. A spokesman at T. Rowe Price declined to comment.
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