Institutional investor T Rowe Price continues to cut holdings in Tesla: Data

T. Rowe Price funds slashed Tesla Inc holdings in the first quarter, data showed on Wednesday, as the institutional investor continued to cut its positions in the electric vehicle maker. The firm, which has been one of the largest investors in the Silicon Valley company, sold off 92 per cent of its prior holdings in the company during the quarter, Refinitiv data showed.

That drop represented the funds for which Refinitiv has data, which may not include all T. Rowe Price funds, which are managed by T. Rowe Price Group Inc. T. Rowe Price did not immediately return a phone call and email seeking comment after hours.