BNP Paribas Sells Nearly 190 Million Dollars Worth of Amazon Stock

BNP Paribas sold 190,819 shares of Amazon.com (AMZN) in the second quarter, reducing its holdings by 34.1%. This decrease makes Amazon.com the e-commerce giant's 14th biggest holding, accounting for approximately 2.4% of BNP Paribas' investment portfolio.

The value of BNP Paribas' Amazon.com holdings at the end of the quarter was $88,034,000. In contrast to this, Bank of America Corp DE acquired a new position in shares of Amazon.com during the 2nd quarter worth about $22,218,775,000.

The reduction in BNP Paribas' Amazon.com holdings is part of a larger trend of institutional investors adding or reducing their stakes in the company. Invesco Ltd. raised its holdings in Amazon.com by 3.3% during the fourth quarter and Legal & General Group Plc bought a new stake in Amazon.com during the second quarter worth about $12,831,376,000.