49 Wealth Management Buys New Stake in Amazon
49 Wealth Management LLC has acquired a new stake in Amazon.com Inc. (NASDAQ:AMZN) worth approximately $2,523,000.
The fund bought 10,586 shares of the e-commerce giant's stock during the second quarter, making up about 0.3% of its investment portfolio.
Amazon makes up one of the largest positions in 49 Wealth Management LLC's portfolio, ranking 29th among all holdings.
This is not an isolated instance; several other hedge funds have also made changes to their positions in Amazon.com during the second quarter. For example, Silvant Capital Management LLC purchased a new position in Amazon.com valued at approximately $60,065,000, while Public Employees Retirement System of Ohio bought a new position worth around $909,868,000.
The e-commerce giant's stock has seen significant activity among institutional investors, with 72.20% currently owned by hedge funds and other institutional investors.