Covington Investment Advisors Acquires $31 Million Stake in Apple
Covington Investment Advisors Inc., a financial institution, has acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL) worth approximately $31,242,000 in its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
The firm acquired 107,968 shares of the iPhone maker's stock, which accounts for about 4.0% of Covington Investment Advisors Inc.'s holdings, making Apple its 7th biggest position.
This investment is part of a larger trend, as several other hedge funds have also recently modified their holdings of Apple. Biondo Investment Advisors LLC bought a new position in shares of Apple during the second quarter valued at $55,115,000, while Saranac Partners Ltd and Jericho Financial LLP purchased new stakes in Apple during the 2nd quarter valued at approximately $9,513,000 and $9,650,000 respectively.