More institutions are now buying big amounts of GME stock, according to recent Q3 filings from multiple businesses.
In a noteworthy development for the retail investment community and GameStop enthusiasts alike, Retirement Systems of Alabama has significantly boosted its investment in GameStop Corp. (NYSE: GME) by a remarkable 41.7% during the third quarter of the year.
This increase is detailed in the latest 13F filing with the Securities and Exchange Commission (SEC), revealing that the institutional investor now holds a total of 471,156 shares of GameStop, having purchased an additional 138,597 shares during this period.
As a result, Retirement Systems of Alabama’s stake in GameStop is now valued at approximately $10.8 million, representing around 0.11% of the company’s total shares.
This surge in investment from Retirement Systems of Alabama is not an isolated incident.
Other institutional investors and hedge funds have also been making strategic moves regarding their positions in GameStop.
For instance, UMB Bank n.a. made headlines by increasing its stake in GameStop by an astonishing 535.8% during the same quarter.
UMB Bank now owns 1,138 shares, valued at around $26,000, after acquiring an additional 959 shares in recent months—a clear indication of growing confidence in GameStop’s potential.
Moreover, Centerpoint Advisors LLC has entered the scene by acquiring a new stake in GameStop during the second quarter, valued at approximately $47,000.
Similarly, CWM LLC has raised its holdings by 115.6%, now owning 2,660 shares worth $66,000 after purchasing an additional 1,426 shares.
The most striking increase comes from Quest Partners LLC, which has lifted its stake by an eye-popping 7,156.5% during the second quarter.
Quest Partners now holds 6,168 shares valued at $152,000, a considerable leap that demonstrates a strong belief in GameStop’s future.
In addition to these developments, Centaurus Financial Inc. has also joined the ranks of institutional investors by purchasing a new position in GameStop worth $171,000 during the third quarter.
Collectively, institutional investors and hedge funds now own about 29.21% of the company’s stock, showcasing a robust interest in the gaming retailer.
For the retail investor community, this influx of institutional support is a positive sign that GameStop is gaining traction and credibility in the market.
As retail investors continue to advocate for the stock, often referring to the movement as a battle against institutional short-sellers, the growing backing from entities like Retirement Systems of Alabama and UMB Bank could provide the momentum needed to further fuel this movement.
In a time when many retail investors are vocal about their commitment to supporting GameStop, the actions of these institutional investors may signal a turning tide.
They reflect a belief that GameStop can not only recover but thrive in the competitive landscape of retail and gaming.
As the company continues to pivot towards a digital-first model, bolstered by its passionate community of supporters, the stage is set for an exciting future.
This confluence of retail activism and institutional investment highlights the unique dynamics at play in the current market.
With each new investment and each new voice joining the cause, GameStop’s narrative evolves, and its potential continues to captivate both institutional and retail investors alike.
As we look ahead, the coming months will be critical in determining the trajectory of GameStop, and the collective efforts of its supporters will undoubtedly play a vital role in shaping its destiny.
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Also Read: Short Sellers Are Now Under Federal Investigation For Collusion
Other Market News Today
An investment firm has now filed for bankruptcy amid a naked short selling investigation that resulted in the loss of more than $126 million.
Liquidators representing All Blue Investments North Star 1 Ltd. and All Blue Investment Management Ltd., companies based in Dubai and registered in the British Virgin Islands, have taken significant legal action by filing for Chapter 15 bankruptcy recognition in Miami.
This move comes as part of a broader investigation into potentially fraudulent activities that have raised serious concerns about financial misconduct.
The investigation reportedly involves two affiliates located in the Cayman Islands and centers around allegations of “improper naked short trades.”
These trading practices are typically viewed with skepticism, as they can lead to significant market distortions and financial losses.
In this case, the alleged misconduct has resulted in staggering losses amounting to approximately $126 million.
Chapter 15 bankruptcy is designed to address cross-border insolvencies and provide a legal framework for foreign companies to seek protection and manage their debts in U.S. courts.
By filing for this type of bankruptcy recognition, the liquidators aim to safeguard the interests of creditors and stakeholders involved in the All Blue Investments entities while navigating the complex landscape of international financial regulations.
The unfolding situation has drawn attention not only for the size of the alleged financial losses but also for the implications it carries for retail investors and the broader financial community.
As the investigation progresses, it is expected that more details will emerge regarding the nature of the trades and the specific roles played by the various entities involved.
Investors and market watchers are keenly observing how this situation will develop, particularly as it highlights the risks associated with complex financial instruments and the importance of regulatory oversight.
The fallout from such allegations could potentially impact broader market perceptions and lead to calls for stricter regulations to prevent similar occurrences in the future.
For example, retail investors within the ‘meme stock’ community have raised concerns to congress members and the SEC about these illegal short selling practices for years.
Firms such as Citadel and Virtu have been scrutinized for cheating the average investor.
Earlier this year, Truth Social, Trump’s social media site publicly scrutinized Ken Griffin’s Citadel Securities for naked short selling the market.
“Rather than support our common sense efforts to promote transparency and compliance, Citadel Securities bizarrely targeted our CEO with an unhinged attack.
Here’s our response:
“Citadel Securities, a corporate behemoth that has been fined and censured for an incredibly wide range of offenses including issues related to naked short selling, and is world famous for screwing over everyday retail investors at the behest of other corporations, is the last company on earth that should lecture anyone on ‘integrity.’”
Naked short selling continues to be a massive problem in the United States.
Will retail investors finally begin to see fairer markets under this new administration?
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