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Capital Research and Management sells of 1 million shares of Nintendo

by rawmeatcowboy
27 July 2016
GN Version 5.0

Capital Research and Management, the U.S. investment adviser that is in effect Nintendo's largest shareholder, sold off a large chunk of its holdings last week, apparently taking profit while the stock was riding high on Pokemania.

Capital Research parted ways with 1.02 million Nintendo shares July 19, Japanese securities filings Tuesday show, shrinking the wealth manager's stake from 18.46% to 17.07%. The Kyoto-based video game company's share price touched a six-year high of 32,700 yen at one point on the day the investment adviser sold.

[Link]