Sumitomo Mitsui Trust Holdings Inc grows holdings in Cameco Co.

On a sunny April 18, 2023, investors were treated to news of Sumitomo Mitsui Trust Holdings Inc’s latest acquisition. According to the most recent SEC filing made by the company, Sumitomo Mitsui grew its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by an impressive 6.9% in the fourth quarter. The move saw the firm add 69,939 more shares than they previously owned, bringing their total holdings to 1,078,648 shares.

The value of this acquisition is not to be understated as it has put Sumitomo Mitsui in control of approximately 0.25% of Cameco’s worth. Specifically, the investment is now worth $24,467,000 according to the most recent estimates at the end of Q4.

Should investors be concerned about what this acquisition means for Cameco? It’s undoubtedly a question that many traders and analysts alike will be asking themselves. However, for now at least based on current trading patterns and developments within the company itself […]

About the author: StockMan

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