Swiss National Bank Ups Stake in DraftKings Inc.
The Swiss National Bank increased its stake in DraftKings Inc., a leading digital sports entertainment and gaming company, by 7.4% during the first quarter. According to its Form 13F filing with the Securities & Exchange Commission, the bank purchased an additional 90,400 shares of DKNG stock, bringing its total holdings to 1,314,864 shares.
This represents approximately 0.27% of DraftKings' outstanding stock and a market value of $28,427,000 at the end of the reporting period. The bank's increased stake in DraftKings follows a trend of institutional investors showing interest in the company's growth prospects.
Recently, several other hedge funds have also modified their holdings of DKNG stock. Montag A & Associates Inc., for example, grew its holdings by 82.5% during the fourth quarter and now owns 1,106 shares worth $38,000. SHP Wealth Management purchased a new position in DraftKings in the 4th quarter worth $42,000.