Hong Kong Stock Exchange filings revealed that on July 10, Fidelity Funds reduced its position in Yongda Auto (03669.HK), offloading 1.5715 million shares at HK$2.1534 apiece. The transaction totaled approximately HK$3.3841 million.
Following this disposal, Fidelity's holdings in the automotive retailer decreased to about 113 million shares, representing a 5.99% stake in the company. This adjustment marks a notable shift in the institutional investor's exposure to the Hong Kong-listed automotive dealership group.
The move comes amid ongoing market volatility in the automotive retail sector, though the filing provided no specific rationale for the stake reduction. Market participants often monitor such institutional position changes as indicators of investment sentiment toward particular stocks.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.