Amazon Stake Sliced by Institutional Investor
Kensington Investment Counsel LLC has decreased its stake in Amazon.com (NASDAQ: AMZN) by 20.8% during the first quarter, according to a recent SEC filing.
The institutional investor sold 2,551 shares of the e-commerce giant's stock, reducing its position from 9,733 shares to $2,027,000 at the end of the most recent quarter.
This move is part of a larger trend, as several other institutional investors and hedge funds have made changes to their positions in Amazon.com recently.