Alphabet Stake Sells Off Amid Institutional Shift
Elevated Capital Advisors LLC reduced its stake in Alphabet Inc.'s stock by 34.7% during the second quarter, selling 2,898 shares and leaving it with 5,454 shares worth $1,949,000.
The institutional investor's holdings in Alphabet make up about 0.5% of its total portfolio, making it its 28th largest position.
Elevated Capital Advisors LLC is not the only institution to have made changes to its positions in GOOGL. Lifetime Wealth Management P.C., EMC Capital Management, IFC & Insurance Marketing Inc., Bard Associates Inc., and iSAM Funds UK Ltd all acquired new stakes in Alphabet during the fourth quarter.
Hedge funds and other institutional investors own 40.03% of Alphabet's stock.