Saudia Arabia’s sovereign wealth fund the Public Investment Fund (PIF) has again reduced its position in Nintendo.
The PIF reduced its stake from 7.5% to 6.3%, per a filing with Japan’s finance ministry.
This comes after the sale of more than 17 million shares over a six-week period ending in October.
The move follows reports in September that the PIF was considering boosting its stake in the Super Mario Bros creator.
PIF remains one of Nintendo’s largest shareholders, according to Bloomberg.
The Saudi fund, which manages about $930 billion in assets, has been purchasing interest in Japanese and Korean gaming firms as part of its strategy to become a hub for video games in the Middle East.
Nintendo’s Tokyo-listed shares closed 3.3% lower on the news.