Covington Investment Advisors Boosts Stake in Amazon

Covington Investment Advisors Inc., a financial institution, boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 7.9% during the second quarter of this year.

The firm now owns 125,331 shares of Amazon's stock after purchasing an additional 9,193 shares in the last quarter. This makes Amazon a significant part of Covington Investment Advisors' investment portfolio, accounting for approximately 3.8% of its holdings.

A number of other hedge funds have also increased their stakes in Amazon during this period. JNBA Financial Advisors raised its position by 10.8%, Addenda Capital Inc. boosted its stake by 9.3%, and F&V Capital Management LLC grew its stake by 22.2%. Additionally, CTC Alternative Strategies Ltd. bought a new stake worth approximately $3,146,000.