Stocks
Alta Advisers Invests $22 Million in Amazon
Alta Advisers Ltd has invested $22.40 million in Amazon.com, Inc. (NASDAQ:AMZN) by purchasing 93,977 shares of its stock during the second quarter.
The investment represents about 5.1% of Alta Advisers Ltd's portfolio and makes it the company's fourth biggest holding.
This is not an isolated incident as other institutional investors and hedge funds have also increased their stakes in Amazon.com recently, with some purchasing new shares worth tens of thousands of dollars.