Ascentis Boosts IBM Stake by 27,000%, Joining Other Hedge Funds

Ascentis Wealth Management LLC significantly increased its stake in International Business Machines Corporation (IBM) by 27,169.6% during the second quarter, according to a recent filing with the Securities and Exchange Commission.

The firm now owns approximately 3.2 million shares of IBM's stock, valued at $906.8 million, which accounts for about 0.34% of International Business Machines' market value.

This is not an isolated instance; several other hedge funds have also modified their holdings in the company during the second quarter.

For example, Bernardo Wealth Planning LLC grew its stake in IBM by 7.3%, while OmniStar Financial Group Inc. increased its holding by 9.7% and Tempo Wealth LLC boosted its position by 4.1%.