Bank of Nova Scotia Invests Heavily in IBM Amid Growing Institutional Interest

Bank of Nova Scotia has made a new investment in International Business Machines Corporation (IBM), purchasing 163,597 shares valued at approximately $46,005,000. This is according to the company's most recent Form 13F filing with the Securities and Exchange Commission.

This is not an isolated incident, as other hedge funds have also made changes to their positions in IBM during the second quarter. For example, Harborfront Financial Group LLC purchased a new stake in IBM valued at approximately $27,000.

Institutional investors and hedge funds own 58.96% of IBM's stock. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating, and one has given a Sell rating to the stock.