Michigan Treasury Dept. Takes Larger Stake in Tesla (TSLA)
Get Alerts TSLA Hot Sheet
Join SI Premium – FREE
While Tesla (Nasdaq: TSLA) can't sell cars directly in Michigan, Michigan can sure make investments in Tesla.
The Detroit News pointed out on Thursday that the Michigan Department of Treasury bought about $48 million worth of Tesla stock in Q2, according to regulatory filings. The shares will be applied toward state retirement funds.
SEC filings show Michigan Department of Treasury holding 339,623 shares of Tesla as of June 30th, up from 104,821 shares on March 30th.
Total value of the stake was $72 million.
Shares of Tesla are down modestly Thursday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Canoo Inc. (GOEV) Provides Update on $62M Share Pre-Paid Advance Agreement
- What does India’s new EV policy mean for Tesla? Bernstein offers their thoughts
- Worksport (WKSP) Announces Pricing Of Approximately $2.8 Million Registered Direct Offering & Concurrent Private Placement Priced At-the-market Under Nasdaq Rules
Create E-mail Alert Related Categories
Insider Trades, Insiders' BlogRelated Entities
TeslaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!