Stocks
Envestnet Doubles Down on Walmart with Significant Stake Increase
Envestnet Portfolio Solutions Inc. increased its stake in Walmart (NASDAQ:WMT) by 17.8% during the second quarter, according to a recent SEC filing.
The institutional investor acquired an additional 20,942 shares of Walmart's stock, bringing its total holdings to 138,450 shares with a value of $15,681,000.
This move is part of a larger trend in which several large investors have been buying into Walmart, including Bank of America Corp DE, Norges Bank, Legal & General Group Plc, Canada Pension Plan Investment Board, and Deutsche Bank AG.