Emerald Invests Heavily in Amazon Amid AI-Powered Deal
Emerald Investment Advisers LLC has acquired a significant stake in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter of this year.
The institutional investor purchased 127,113 shares of AMZN's stock for approximately $30,296,000, which accounts for about 2.0% of Emerald Investment Advisers LLC's holdings and makes it the company's sixth-largest position.
This is not an isolated instance; other institutional investors have also taken up new stakes in Amazon.com during the second quarter. These include Brilliance Asset Management Ltd., Westpac Banking Corp, Iyo Bank Ltd., TRB Wealth Management LLC, and Sumitomo Life Insurance Co., who acquired stakes worth $9,743,000, $50,914,000, $11,526,000, $8,066,000, and $68,303,000 respectively.
As of now, 72.20% of Amazon.com's stock is owned by hedge funds and other institutional investors.