Castleark Management Doubles Down on American Express

Castleark Management LLC acquired a new position in American Express Company (NYSE:AXP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).

The institutional investor bought 27,295 shares of the payment services company's stock, valued at approximately $9,233,000.

This is not an isolated instance; several other hedge funds have also recently bought or sold shares of American Express. Evolution Wealth Management Inc. increased its position in American Express by a staggering 6,600.0% in the fourth quarter.