Why Lumen Technologies Stock Tumbled by 4% on Monday

Why Lumen Technologies Stock Tumbled by 4% on Monday

It's rarely comforting when an institutional investor cuts its stake in a company. In a regulatory document filed that morning, financial services company State Street disclosed that it currently holds just under 53.9 million shares of Lumen's common stock, giving it a stake of slightly over 5.2% in the telecom. State Street has not yet publicly commented on its shift, nor has Lumen formally addressed it.