This Fund Sold $222 Million in Nike Stock — and Is Now Betting Against It

On October 21, Banque Pictet & CIE reported selling nearly 3 million shares of NIKE (NYSE:NKE)for an estimated $221.7 million based on quarterly average prices.According to a filing with the U.S. Securities and Exchange Commission released on October 21, Banque Pictet sold nearly 3 million shares of Nike during the third quarter. The estimated value of the trade, calculated using the average closing price for the quarter, was about $221.7 million. The fund’s remaining stake was 305,333 shares as of September 30.This was a significant sell, reducing the stake to 0.2% of 13F AUM as of September 30 from 1.6% in the prior quarter.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool