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Tesla's largest institutional investor T. Rowe Price cuts half



  Tesla fans are standing in the long line to preorder the new Tesla March, 2016.

John Leyba | The Denver Post | Getty Images

Tesla fans are standing on the long line to pre-order the new Tesla in March, 2016.

Q. Rowe Price cut the stake in Tesla in half to fourth quarter, according to a government filing. The last year, according to a filing with the Securities and Exchange Commission. The new, smaller bet represents 5.2 percent of common electric car distributors remaining at the end of December. The Baltimore-based fund group reported on an earlier file of ownership of 17.4 million shares, or a 10.2 percent stake, on September 30.

Rowe Price is the second largest electric car manufacturer behind CEO Elon Musk at the end of the third quarter of 2018. The company has $ 962 billion in assets under management on December 31.

Tesla's shares rose roughly 26 percent in the fourth quarter and reached 2.7 percent on Monday afternoon, above $ 314 per share. For this story, while Tesla did not immediately respond to CNBC's request for in comment.


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