Renaissance Technologies, Two Sigma Investments and Arrowstreet Capital were among the major companies that sold all their shares in aircraft maker Boeing Co (BA.N).
Renaissance Technologies sold 1.057.900 Boeing shares in the first quarter, a position that was worth just over $240 million at the end of the period and would be worth about $187 million now. Two Sigma Investments sold 108.423 shares, while Arrowstreet Capital sold 47.571 shares.
Boeing shares are down 32% year to date as the aircraft maker battles a safety crisis exacerbated by the explosion of the overhead of a 737 MAX plane in January. Chief Executive Dave Calhoun said on March 25 that he will step down by the end of the year.
The U.S. Department of Justice said Wednesday that Boeing violated its obligations under a 2021 settlement that prevented the planemaker from being criminally prosecuted following fatal crashes of the 737 MAX in 2018 and 2019, which killed a total of 346 people.
Quarterly disclosures of the equity holdings of hedge funds and other institutional investors in 13F filings with the U.S. Securities and Exchange Commission are one of the few public ways to track what hedge fund managers are selling and buying. Disclosures are made 45 days after the end of each quarter and may not reflect current positions.
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