Balefire Trims NVIDIA Holdings as Hedge Funds Boost Stakes
Balefire LLC has trimmed its holdings in NVIDIA Corporation by selling 2,710 shares of NVDA stock during the second quarter.
The fund now owns 65,016 shares of NVDA, which accounts for approximately 2.1% of Balefire's total holdings and makes it the company's third-largest holding.
This recent move is not isolated as other hedge funds have also been buying or selling NVIDIA stock. Norges Bank purchased a new position in NVIDIA worth approximately $62.244 billion during the fourth quarter, while J. Stern & Co. LLP grew its stake by 13,709.1% and Cardano Risk Management B.V. increased its holding by 896.4%.
NVIDIA's stock has been performing well, with a current market capitalization of $5.45 trillion and a price-to-earnings ratio of 34.48. The company also announced a quarterly dividend of $0.25 per share on June 26th and declared a stock buyback program allowing the reacquisition of up to 1.5% of its outstanding shares.