Texas Permanent School Fund Corp Lowers Stock Position in Marten Transport, Ltd. (NASDAQ:MRTN)

On August 19, 2021, the Texas Permanent School Fund Corp (TPSFC) announced that it had lowered its stock position in Marten Transport, Ltd. (NASDAQMRTN) by approximately 5%. The TPSFC is a state-owned investment fund that manages the endowment of the public schools of Texas.

The reason for the lowering of the stock position was not disclosed in the press release. However, it is worth noting that Marten Transport, Ltd. is a publicly traded company that operates in the transportation industry. The company provides trucking services to customers in various industries, including retail, food and beverage, and e-commerce.

As of the end of the second quarter of 2021, the TPSFC held approximately 5.7 million shares of Marten Transport, Ltd.'s common stock, which represented a 6.3% ownership stake in the company. After the lowering of the stock position, the TPSFC now holds approximately 5.4 million shares of Marten Transport, Ltd.'s common stock, which represents a 5.8% ownership stake in the company.

It is important to note that the decision by the TPSFC to lower its stock position in Marten Transport, Ltd. does not necessarily reflect any negative view of the company or its operations. Rather, it may be a strategic move based on the fund's investment objectives and risk management strategies.