Amazon Stake Purchased by Pinnacle Holdings LLC Amidst $8B Generac Deal
Pinnacle Holdings LLC has made headlines after purchasing a new stake in Amazon.com, Inc. (NASDAQ:AMZN) valued at approximately $2,799,000 in the 2nd quarter.
The investment firm bought 11,743 shares of the e-commerce giant's stock, joining other hedge funds and institutional investors who have also recently modified their holdings of the company.
Bank of New York Mellon Corp purchased a new stake in Amazon.com worth approximately $16,341,405,000 in the 2nd quarter. Invesco Ltd. boosted its holdings in shares of Amazon.com by 3.3% during the 4th quarter and now owns 59,604,857 shares valued at $13,757,993,000.
Amazon has made significant moves in recent weeks, including agreeing to purchase up to $8 billion worth of backup generators from Generac. This deal is expected to help Amazon bring AWS data centers online despite grid-connection delays and power shortages.