MSTR Stock Up As Ohio State Fund Boosts Strategy Stake To $16M
Strategy Inc. (MSTR) shares gained as the Ohio State Fund increased its stake in the MSTR stock. The Michael Saylor-backed MSTR share price currently stands above the $170 level.
US Ohio State Fund Adds More MSTR Shares
In a recent filing, the Ohio State Teachers Retirement Fund added to its stake in Strategy. The fund bought an additional 5,881 shares worth over $1 million, according to the last closing price.
The investment fund now owns a total of 93,570 shares worth roughly $16 million. The move is a continuation of large-scale investors’ gradual build-up, despite the recent market fluctuations in crypto-related stocks like the MSTR stock.
This move comes amid renewed focus on Strategy’s Bitcoin buying strategy. The company announced a fresh $255 million BTC acquisition on Monday, April 27. Moreover, last Monday, Strategy (formerly MicroStrategy) announced it had bought $2.54 billion worth of Bitcoin
Moreover, strong institutional interest into the MSTR stock has also been supported by substantial purchases by major fund managers. According to data released on April 21, Capital Group’s American Funds Fundamental Investors (ANCFX) added to its holdings in Strategy.
The fund acquired 4.32 million shares, worth $747 million at the time. Currently, the fund holds 10.33 million shares, valued at approximately $1.78 billion.
Meanwhile, investment powerhouse Vanguard Group has also boosted its holdings in Strategy. As CoinGape reported previously, Vanguard purchased $195 million worth of MSTR stock via its VOE ETF, bringing its holdings to almost $255 million.
MSTR Stock Price Gains
Amid the positive news around Ohio State Fund acquisition and Strategy’s Bitcoin purchase, the MSTR stock was up slightly. At press time, the MSTR share price stood at $171.57, up by 0.35% in the intraday trading session.
Earlier, after the Ohio State Fund revealed boosting its MSTR holdings, the stock price was up around 1.50% in the premarket session.
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