UK hedge fund Marshall Wace slashed its position in Chinese EV maker Nio by nearly 75% in the second quarter, selling more than 4.3m shares and ending June with under 1.5m shares, according to the firm's latest 13F filing.

The move comes after the $76.9bn manager rebuilt its Nio stake last year, but the holding has seen repeated volatility since the firm first entered in 2020 at the height of the stock’s rally. Nio shares have since fallen over 90% from their peak.

By contrast, Renaissance Technologies and JPMorgan both increased their positions in Nio in Q2, highlighting diverging institutional views on the struggling EV manufacturer.