Former CEO of Lordstown Motors Stephen Burns Reduces Position (RIDE)

Fintel reports that former CEO Stephen Burns has filed a 13D/A form with the SEC disclosing ownership of 30,602,745 shares of GM-backed Lordstown Motors Corp (RIDE). This represents 14.1% of the company.

In his previous filing dated March 3, 2022 he reported 35,362,745 shares and 18.00% of the company, a decrease in shares of 13.46% and a decrease in total ownership of 3.90% (calculated as current – previous percent ownership).

What are other large shareholders doing?

BlackRock Inc. holds 10,603,126 shares representing 4.89% ownership of the company. In it’s prior filing, the firm reported owning 9,949,513 shares, representing an increase of 6.16%. The firm decreased its portfolio allocation in RIDE by 41.21% over the last quarter.

Invesco Ltd. holds 9,599,695 shares representing 4.42% ownership of the company. In it’s prior filing, the firm reported owning 7,182,108 shares, representing an increase of 25.18%. The firm decreased its portfolio allocation in RIDE by 26.43% over the last quarter.

PBW – Invesco WilderHill Clean Energy ETF holds 7,933,629 shares representing 3.66% ownership of the company. In it’s prior filing, the firm reported owning 5,662,746 shares, representing an increase of 28.62%. The firm increased its portfolio allocation in RIDE by 28.19% over the last quarter.

Vanguard Group Inc holds 7,058,700 shares representing 3.25% ownership of the company. In it’s prior filing, the firm reported owning 9,111,811 shares, representing a decrease of 29.09%. The firm decreased its portfolio allocation in RIDE by 57.34% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,431,521 shares representing 2.04% ownership of the company. In it’s prior filing, the firm reported owning 3,650,761 shares, representing an increase of 17.62%. The firm decreased its portfolio allocation in RIDE by 33.37% over the last quarter.

What is the overall institutional sentiment?

There are 266 funds or institutions reporting positions in Lordstown Motors Corp. This is a decrease of 17 owner(s) or 6.01%.

Average portfolio weight of all funds dedicated to Lordstown Motors Corp is 0.0180%, an increase of 5.4611%. Total shares owned by institutions increased in the last three months by 17.29% to 63,925,123 shares.

This article originally appeared on Fintel