Baker Avenue Boosts IBM Stake Amid Quantum Computing Momentum

Baker Avenue Asset Management LP has increased its stake in International Business Machines Corporation (NYSE:IBM) by 7.7% during the second quarter, according to a recent disclosure with the Securities & Exchange Commission.

The institutional investor owned 69,207 shares of IBM's stock after acquiring an additional 4,931 shares during the period.

Baker Avenue Asset Management LP's holdings in International Business Machines were worth $19,462,000 at the end of the most recent quarter.

IBM has seen various institutional investors and hedge funds making changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of IBM by 424.6% in the fourth quarter.