Stocks
Disney Shareholder Pacer Advisors Cuts Holdings by 97.5%
Pacer Advisors Inc., a financial services company, reduced its holdings in shares of The Walt Disney Company by 97.5% during the first quarter, according to its latest SEC filing. The firm owned 88,708 shares of the entertainment giant's stock after selling 3,458,726 shares during the quarter.
The value of Pacer Advisors Inc.'s holdings in Walt Disney was $8,550,000 as of its most recent SEC filing. This significant reduction in holdings is notable, given that hedge funds and other institutional investors own 65.71% of the company's stock.
Other firms have also adjusted their positions in Disney recently. Swiss RE Ltd., for example, bought a new stake in shares of Walt Disney during the fourth quarter worth $25,000.