Amazon Stake Reduced by 37% as Institutional Holdings Remain Strong

Prevail Innovative Wealth Advisors LLC revealed its latest stake in Amazon.com, Inc. (NASDAQ:AMZN) on Thursday. In a disclosure to the Securities and Exchange Commission, the firm stated it had reduced its shares of AMZN by 37.1% during the second quarter.

The decrease in holdings resulted in a reduction of 15,690 shares from their previous total. Following this adjustment, Prevail Innovative Wealth Advisors LLC owned 26,565 shares of Amazon.com stock at the end of the reporting period.

This stake was valued at approximately $6.33 million and accounted for a significant portion of the firm's overall portfolio. The decline in shares is notable, given that institutional investors hold a substantial amount (72.20%) of AMZN's outstanding stock.