The Califrornia State Teachers' Retirement System, the second-largest pension fund in the U.S., announced in an official release that it's going to exit from stocks of certain firearms makers. In particular, this means Smith & Wesson and Sturm Ruger .
Although CalSTRS does not hold relatively large stakes in either manufacturer -- it has around $1.1 million worth of the former, and $1.8 million in the latter -- the fund's size and prominence make it likely that the move will be followed by other large financial investors.
The CalSTRS divestment follows a call from California State Treasurer Bill Lockyer to exit from firms that make firearms prohibited by law to be sold or owned in the state.
The article California Pension Fund to Divest From Gun Stocks originally appeared on Fool.com.
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