$AAPL Stock Drops 8% Amid Insider Selling and Mixed Hedge Fund Moves
$AAPL stock fell 8% this week according to Quiver Quantitative's price data from Polygon. The company has been one of the most-searched tickers on Quiver over the last week.
The decline has raised questions about insider trading activity. In the past six months, $AAPL insiders have made 11 trades on the open market, all of which were sales. Top executives including Chief Executive Officer TIMOTHY D COOK and Senior Vice President KEVAN PAREKH sold a significant number of shares.
Another factor that may be contributing to the decline is hedge fund activity. Quiver's data shows that 2,467 institutional investors added shares of $AAPL stock to their portfolio in the most recent quarter, but 2,931 decreased their positions. Some notable moves include CAPITAL INTERNATIONAL INVESTORS removing 35 million shares from their portfolio and DIAMANT ASSET MANAGEMENT, INC. removing 26 million shares.