SEATTLE (Scrap Monster): The recent disclosure with the Securities and Exchange Commission (SEC) by Barclays Plc. suggests notable increase in the company’s stake in PureCycle Technologies, Inc.
The financial institution increased its position in the company by 78.3%, by acquiring 25,225 shares of PureCycle Technologies. With this, Barclays now owns 57,438 shares of the company. The holdings of the company are valued at around $402,000 as per the stock’s current market value.
The development testifies the growing interest and investment in sustainable and eco-friendly companies. The increase is stake by Barclays is an acknowledgement of PureCycle’s potential value and its revolutionary approach to innovative plastic recycling.
The institutional investors have been increasingly investing in PureCycle Technologies recently. During the initial quarter of the current year, various institutional investors such as Envestnet Asset Management Inc., Advisor Group Holdings Inc. and Principal Financial Group Inc. made investments in the company. Also, the company had attracted investment from financial giants such as JPMorgan Chase & Co. and Bank of New York Mellon Corp during the quarter.
PureCycle Technologies uses proprietary methods to process waste polypropylene (PP) into high-quality recycled resin.
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