Diversified Management Trims Stake in Cisco Systems After 42% Reduction

Diversified Management Inc., an investment firm, has trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by selling 12,603 shares during the second quarter.

According to a recent disclosure with the Securities & Exchange Commission, Diversified Management Inc.'s holdings in Cisco Systems are now worth $2,041,000.

This sale represents a 42% decrease in the firm's stake in the network equipment provider, bringing their total shares held to 17,375.

Meanwhile, other large investors have been increasing their positions in Cisco Systems. Vanguard Group Inc., for example, has boosted its holdings by 1% during the fourth quarter and now owns approximately 398 million shares valued at $30.73 billion.