A little excerpt from an article a little over a y
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Posted On: 01/05/2019 7:49:06 AM
A little excerpt from an article a little over a year old regarding II's buying penny stocks. Link to article is at the bottom. Enjoy
What about institutional investors?
Mutual funds and other institutional investors may choose to avoid stocks priced at less than $5 per share, but there are no specific rules or laws prohibiting the practice.
In fact, one of the largest actively managed stock funds on the market today is the Fidelity Low-Priced Stock Fund (NASDAQMUTFUND:FLPSX), which specifically seeks to invest in stocks priced at less than $35 per share. It launched in 1989 at the height of the public's love affair with low-priced stocks, and has crushed the market since inception. (Its focus on low-priced stocks may be more of a guide than a rule today, since its five largest investments all trade for more than $35 per share, a testament to the fact that self-imposed restrictions are rarely set in stone.)
https://www.fool.com/investing/2017/11/06/can...der-5.aspx
What about institutional investors?
Mutual funds and other institutional investors may choose to avoid stocks priced at less than $5 per share, but there are no specific rules or laws prohibiting the practice.
In fact, one of the largest actively managed stock funds on the market today is the Fidelity Low-Priced Stock Fund (NASDAQMUTFUND:FLPSX), which specifically seeks to invest in stocks priced at less than $35 per share. It launched in 1989 at the height of the public's love affair with low-priced stocks, and has crushed the market since inception. (Its focus on low-priced stocks may be more of a guide than a rule today, since its five largest investments all trade for more than $35 per share, a testament to the fact that self-imposed restrictions are rarely set in stone.)
https://www.fool.com/investing/2017/11/06/can...der-5.aspx
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