Bank of New York Mellon Invests Heavily in The Home Depot

Bank of New York Mellon Corp has invested heavily in The Home Depot, Inc. (NYSE:HD) by purchasing approximately $2.78 billion worth of shares during the second quarter.

The company acquired 7,875,115 shares of Home Depot's stock, which accounts for about 0.79% of the total outstanding shares owned by Bank of New York Mellon Corp at the end of the most recent reporting period.

This significant investment is part of a broader trend in which institutional investors have been increasing their stakes in The Home Depot, with hedge funds and other institutional investors collectively owning around 70.86% of the company's stock.