While commercial Virtual Reality (VR) controllers are mostly designed to be held in a power grip, previous research showed that using pen-like devices with a precision grip can improve user performance for selection in VR, potentially even matching that achievable with a mouse. However, it is not known if the improvement is due to the grip style. In this work, 12 subjects performed a Fitts' task at 3 different depth conditions with a pen-like input device used in both a precision and power grip. Our results identify that the precision grip significantly improves user performance in VR through a significant reduction in error rate, but we did not observe a significant effect of the distance of targets from the user. We believe that our results are useful for designers and researchers to improve the usability of and user performance in VR systems.