The New York State Common Retirement Fund expanded its investment in Gates Industrial Corporation PLC (NYSE: GTES) by acquiring an additional 345,552 shares during the third quarter. This purchase raised the fund’s total holdings to 1,381,075 shares, representing a 33.4% increase compared to the previous quarter.
This move reflects the fund’s growing confidence in Gates Industrial Corporation’s performance and prospects. The increased position may impact the company’s stock liquidity and investor interest.
**Why this matters**
Large institutional investors like the New York State Common Retirement Fund can influence market perceptions and stock prices through significant changes in their holdings. An increase in shares held often signals positive expectations for the company’s future growth or stability.
Source: NewsData