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Covington Invests Heavily in Amazon Amid AI-Powered Deal

Guavy AI Editorial Team
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AMZN
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Covington Investment Advisors Inc., a prominent investment firm, has made a significant new investment in Amazon.com, Inc. (AMZN) worth $29.87 million.

The acquisition of 125,331 shares represents about 3.8% of Covington's holdings and makes AMZN its eighth-largest position.

This is not an isolated move; several other institutional investors have also increased their stakes in Amazon during the second quarter, with Bank of New York Mellon Corp acquiring a new stake valued at $16.34 billion.

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