Amazon Sees Increased Institutional Support Amid AI Expansion
A recent Form 13F filing by Private Advisory Group LLC revealed that the investment firm purchased 224,386 shares of Amazon.com's stock in the second quarter. This purchase was valued at approximately $53,480,000 and accounts for 2.9% of Private Advisory Group LLC's investment portfolio.
Amazon makes up Private Advisory Group LLC's 9th largest holding, indicating a significant interest in the e-commerce giant. The firm's investment in Amazon is part of a larger trend of institutional investors adding to their stakes in the company.
In addition to Private Advisory Group LLC, several other hedge funds and institutional investors have recently increased their positions in Amazon.com. These include MilWealth Group LLC, Lifetime Wealth Management P.C., Elkhorn Partners Limited Partnership, Fairway Wealth LLC, and Prudent Man Investment Management Inc.