Zurich Cantonalbank raised its stake in Rivian Automotive, Inc. (NASDAQ: RIVN) by 40.1% in Q4 2022, according to a recent Securities and Exchange Commission filing. The bank owned 175,535 shares of the electric vehicle automaker’s stock, worth $3,235,000, after acquiring an additional 50,215 shares during the period. Other institutional investors and hedge funds, including BlackRock Inc., Vanguard Group Inc., and State Street Corp, have also increased their holdings in Rivian Automotive in the past. Hedge funds and other institutional investors currently hold 67.97% of the company’s stock.
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