Confluence Investment Doubles Down on Nike with $96M Bet
Confluence Investment Management LLC has boosted its position in NIKE, Inc. ($NKE) by 873.8% in the third quarter, according to a recent SEC filing. The firm now owns 2,720,616 shares of the footwear maker's stock after buying an additional 2,441,233 shares during the period.
The position accounts for approximately 1.5% of Confluence Investment Management LLC's investment portfolio, making NIKE its 21st largest holding. The company owned 0.18% of NIKE worth $96,310,000 at the end of the most recent quarter.
A number of other hedge funds and institutional investors have also made changes to their positions in NKE. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $26,000.