$12.7 Million Bet on P&G as Oppenheimer Asset Management Takes Stake

Oppenheimer Asset Management Inc. recently purchased $12.70 million worth of shares in Procter & Gamble Company (The) ($PG). The firm acquired 86,605 shares in the second quarter, as revealed by its most recent Form 13F filing with the Securities and Exchange Commission.

This investment is not an isolated instance; other hedge funds have also bought or increased their stakes in Procter & Gamble during the same period. E Fund Management Hong Kong Co. Ltd., for example, boosted its stake by a staggering 1,000% during the fourth quarter.