Stocks
Fifth Third Bancorp Cuts Stake in Nike Inc.
Fifth Third Bancorp has reduced its stake in Nike Inc. (NYSE:NKE) by 6.7% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission.
The fund sold 56,133 shares of Nike's stock, resulting in a total ownership of 778,646 shares worth $31,963,000 at the end of the most recent quarter.
This reduction comes as other hedge funds have increased their holdings in Nike. Westerkirk Capital Inc., for example, boosted its position by 52.4% in the fourth quarter, owning 131,220 shares valued at $8,360,000.