American Express Sees Continued Institutional Support Amid Growing Portfolio Changes

Tocqueville Asset Management L.P. has acquired a new position in American Express Company (NYSE:AXP) during the second quarter, as revealed in its most recent Form 13F filing with the Securities and Exchange Commission.

The institutional investor purchased 55,092 shares of AXP's stock, valued at approximately $18,635,000. This move is part of a larger trend of increased activity from various hedge funds and other institutional investors in American Express.

American Express has seen significant changes to its portfolio in recent quarters, with several major institutions buying or selling shares. In the fourth quarter, Evolution Wealth Management Inc. grew its position by 6,600%, while Joseph Group Capital Management purchased a new position valued at $26,000.