Bank of New York Mellon Makes $5.08 Million Bet on CVR Energy
Bank of New York Mellon Corp has made a new investment in CVR Energy Inc. (NYSE:CVI) worth $5.08 million, according to its latest Form 13F filing with the Securities and Exchange Commission.
The fund bought 184,353 shares of CVR Energy's stock in the second quarter, valued at approximately $5,077,000.
This is not an isolated incident, as several other institutional investors and hedge funds have also recently invested in CVR Energy. For example, Royal Bank of Canada grew its position in CVR Energy by 67.2% in the first quarter, while AQR Capital Management LLC bought a new stake in shares of CVR Energy during the same period.
CVR Energy has been performing well, with its revenue up 55.5% year-over-year and earnings per share beating analysts' expectations.