Contravisory Sells Big Chunk of IBM Shares

Contravisory Investment Management Inc. reduced its holdings in International Business Machines Corporation (NYSE:IBM) by 97.8% during the second quarter, according to its latest 13F filing with the SEC.

The institutional investor owned 696 shares of IBM's stock after selling 31,443 shares during the period. The value of Contravisory Investment Management Inc.'s holdings in International Business Machines was $196,000 as of its most recent filing with the SEC.

Meanwhile, other institutional investors and hedge funds have been actively buying and selling shares of IBM. Norges Bank bought a new position in shares of International Business Machines during the fourth quarter valued at $2,446,429,000.

In contrast to Contravisory Investment Management Inc., Capital World Investors boosted its holdings in shares of International Business Machines by 29.2% during the 4th quarter.