One of the biggest cuts to investors is Virgin Galactic

Text size

Any of

Galactic Virgin Reservation‘s

the largest shareholders, the sovereign wealth fund of Abu Dhabi Mubadala Investment, reduced interest in the aerospace and space travel company.

Virgin Galactic stock (ticker: SPCE) has soared 28.2% so far in January, fueled by excitement for the region after Cathie Wood’s ARK Invest filed documents to open a new space trading fund. start. In comparison, the

S&P 500 index,

broad market share, just gained 0.3% in the new year.

Mubadala reduced its investment to 11.8 million shares of Virgin Galactic, a share of 5.04%, as of January 14, from 14.9 million shares, a share of 7.08%, as of August 7. It remains the third largest owner of Virgin Galactic, according to S&P IQ calpa. The fund showed the smaller investment in filing with the Securities and Exchange Commission.

Mubadala did not respond to a request for comment on the sale of the stock.

Barron’s has noted continued profitability that ARK Invest’s proposed ETF would buy Virgin Galactic shares.

Inside Scoop is Barron’s regular feature covering stock deals with corporate officers and board members – so-called attackers – as well as major shareholders, politicians and other celebrities. Because of their internal status, these investors are required to declare stock trading with the Securities and Exchange Commission or other regulatory bodies..

Write to Ed Lin at [email protected] and follow @BarronsEdLin.